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.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
See the top stocks recommended by analysts >>
Read More on SPGI:
- S&P Dow Jones Indices Reports U.S. Common Indicated Dividend Payments Increase $13.7 Billion in Q4 2023 and $36.5 Billion in 2023
- S&P Global price target raised to $489 from $440 at BMO Capital
- S&P 500 Q3 2023 Buybacks Up 6.1% and Impact to Earnings Per Share Continues to Decline; Buyback Tax Reduced Operating Earnings by 0.39%
- Booking Holdings names Ewout Steenbergen as CFO, succeeding David Goulden
- S&P Global price target raised by $5 at Deutsche Bank, here’s why
