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Optimistic Outlook for S&P Global: Buy Rating Affirmed Amid Strong Credit Issuance and Earnings Revision

Optimistic Outlook for S&P Global: Buy Rating Affirmed Amid Strong Credit Issuance and Earnings Revision

Morgan Stanley analyst Toni Kaplan maintained a Buy rating on S&P Global today and set a price target of $595.00.

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Toni Kaplan has given his Buy rating due to a combination of factors that suggest a promising outlook for S&P Global. Despite a challenging quarter for credit markets, the company’s performance is expected to be better than initially feared, with June’s strong credit issuance providing a positive surprise. This has led to an upward revision of the earnings per share estimates for S&P Global by 2%, reflecting improved financial expectations.
Moreover, Kaplan has adjusted the price target for S&P Global to $595, up from $587, indicating confidence in the company’s future performance. The anticipated maintenance of full-year ratings revenue guidance, despite a decline in issuance, further supports the Buy rating. The ability to offset volume declines with price increases and a stable recurring revenue mix contributes to a more optimistic forecast for the company.

In another report released on July 3, Wells Fargo also maintained a Buy rating on the stock with a $632.00 price target.

Based on the recent corporate insider activity of 61 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of SPGI in relation to earlier this year.

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