BofA raised the firm’s price target on S&P Global to $540 from $530 and keeps a Buy rating on the shares. S&P will report Q2 earnings before the market open on July 30 and the firm expects a strong quarter, boosted by outsized Ratings and Index sales strength, the analyst tells investors in a preview note. The firm thinks S&P can deliver on its plan for improving Market Intelligence sales through 2024 driven by new products and IHS synergies and thinks this idiosyncratic growth will warrant a higher multiple, the analyst added.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on SPGI:
- S&P Global price target raised to $555 from $505 at UBS
- Moody’s price target raised to $392 from $374 at Morgan Stanley
- S&P Global price target raised to $510 from $500 at Morgan Stanley
- S&P Dow Jones Indices Reports U.S. Common Indicated Dividend Payments Increase $16.0 Billion in Q2 2024 Driven by Alphabet Initiation
- S&P Global price target raised to $486 from $482 at Oppenheimer