Stifel analyst Shlomo Rosenbaum raised the firm’s price target on S&P Global to $460 from $414 and keeps a Buy rating on the shares. Based on S&P’s billed issuance data for October and November and the firm’s aggregate debt issuance tracker for Q4, Stifel believes debt issuance was higher than expected in Q4 and that S&P’s Ratings revenue should be higher than what consensus forecasts, the analyst tells investors. The firm’s Q4 adjusted EPS estimate is now $3.31, up from its prior $3.11 estimate that previously matched the current consensus, the analyst noted.
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