Jefferies downgraded Verisk Analytics to Hold from Buy with a price target of $247, down from $265, after assuming coverage of the name. The company’s strategic shift to focus exclusively on providing data and analytics to the insurance industry has created a more resilient business, one with a stronger moat and higher, more predictable revenue and earnings growth, the analyst tells investors in a research note. However, the stock’s valuation now appears full as Verisk’s multiple has expanded to a record level above peers and further expansion is unlikely as growth moderates to more normal levels, says Jefferies.
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