FactSet price target lowered to $296 from $355 at Wells Fargo

Wells Fargo lowered the firm’s price target on FactSet (FDS) to $296 from $355 and keeps an Underweight rating on the shares. The company reported Q4 organic annual subscription value above consensus, but guided below the Street, though guidance seems conservative, the analyst tells investors in a research note. The firm added that the ASV beat was overshadowed by mention of rising competition due to AI and margin pressures from increased investments. The firm also said that the selloffs in S&P Global (SPGI), Moody’s (MCO), and MSCI (MSCI) following FactSet results appear unwarranted given limited overlap.