Morgan Stanley analyst Toni Kaplan raised the firm’s price target on S&P Global (SPGI) to $570 from $564 and keeps an Overweight rating on the shares. Aggregate Q3 issuance increased 38% year-over-year, says the analyst, who is raising Q3 ratings revenue growth estimates to 25% and raising 2024 revenue and adjusted EPS estimates. The firm expects both Moody’s (MCO) and S&P to beat street estimates given the strong issuance in the quarter and Index upside at S&P, the analyst tells investors.
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