Morgan Stanley analyst Toni Kaplan maintained a Buy rating on S&P Global (SPGI – Research Report) today and set a price target of $587.00.
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Toni Kaplan has given his Buy rating due to a combination of factors including the expectation of market stabilization and improvement in the coming months. Despite a significant decline in global credit issuance in April, which saw a 42% year-over-year drop, there are signs of recovery as spreads have begun to stabilize.
Kaplan anticipates that the reopening in May and June will contribute to a more favorable market environment, particularly for high-grade issuers, which experienced a less severe decline compared to leveraged issuers. This optimism is underpinned by the belief that the challenges faced in April are temporary, and the market conditions will improve as the year progresses.
In another report released on April 30, Robert W. Baird also maintained a Buy rating on the stock with a $589.00 price target.
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