Raymond James analyst Patrick O’Shaughnessy upgraded FactSet (FDS) to Market Perform from Underperform without a price target The firm sees limited further downside risk to FactSet’s valuation multiple, which it notes currently sits near the stock’s five-year low. The company’s annual subscription value and revenue growth positively inflected in fiscal Q3, while the sales pipeline appears to be improving, the analyst tells investors in a research note. However, Raymond James continues to view budget pressures facing much of FactSet’s end market and improved competition from Refinitiv as likely limiting revenue growth upside. As such, the firm now views the stock’s risk/reward as relatively balanced.
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