MSCI price target lowered to $570 from $640 at Wells Fargo

Wells Fargo analyst Seth Weber lowered the firm’s price target on MSCI to $570 from $640 and keeps an Overweight rating on the shares. The firm notes shares were down following a solid Q3 beat and reiterated FY23 free cash flow guidance despite higher expenses, while near-term share repo remains limited as focus shifts to integration and attacking into the large private asset opportunity.