BofA analyst Heather Balsky lowered the firm’s price target on S&P Global to $455 from $464 and keeps a Buy rating on the shares ahead of the company reporting Q3 EPS on November 2. The firm expects improving sales driven by recovering credit supply and the realization of IHS synergies over the near-term, but thinks S&P is “more of a show-me story than it was a few months ago,” the analyst tells investors in an earnings preview note. BofA is trimming its Q3 estimates given issuance risk, the analyst noted.
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