MSCI price target lowered to $600 from $700 at Barclays

Barclays analyst Manav Patnaik lowered the firm’s price target on MSCI to $600 from $700 and keeps an Overweight rating on the shares post the Q1 report. Higher than expected cancels and “frustration selling” drove the shares down 13% post earnings, the analyst tells investors in a research note. However, the sees a “once a year” buying opportunity for one of its “highest quality names.”