FactSet price target lowered to $372 from $464 at Stifel

Stifel analyst Shlomo Rosenbaum lowered the firm’s price target on FactSet (FDS) to $372 from $464 and keeps a Hold rating on the shares. The stock underperformed on Thursday likely due to concerns over the lack of clarity on how long the investment phase for the company will last and whether these investments will reaccelerate growth in a meaningful way, the analyst tells investors in a research note. There are also some concerns whether these investments are required for the company to just maintain its competitive position, which would result in a lower long-term margin outlook for FactSet, Stifel says.