Analyst Toni Kaplan from Morgan Stanley maintained a Buy rating on S&P Global (SPGI – Research Report) and keeping the price target at $587.00.
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Toni Kaplan has given his Buy rating due to a combination of factors that reflect both the challenges and potential of S&P Global. Despite a decline in global credit issuance in May, which was down 10% year-over-year due to economic uncertainties, there were signs of improvement in certain areas. High-grade issuers managed to bring a significant amount to the market, and the high-yield markets showed notable improvement compared to previous months.
Kaplan notes that while leveraged loan markets and structured issuance faced declines, the overall issuance is tracking close to S&P Global’s expectations for the quarter. This suggests that if the trends observed in May continue into June, the company could meet its forecasted targets. The stabilization of spreads also indicates a more favorable market environment, supporting the Buy rating as S&P Global navigates through these economic conditions.
Kaplan covers the Industrials sector, focusing on stocks such as Republic Services, Waste Connections, and ARAMARK Holdings. According to TipRanks, Kaplan has an average return of 2.3% and a 55.48% success rate on recommended stocks.
In another report released yesterday, KGI Securities also maintained a Buy rating on the stock with a $570.00 price target.