Morgan Stanley expects FactSet (FDS) to miss consensus Annual Subscription Value growth in the quarter and lower ASV guidance, adding that ASV “remains the most important metric for investors.” ASV growth has been decelerating over the past 11 quarters, notes the firm, which expects this to continue in fiscal Q3. The firm maintains its Underweight rating and $390 price target on FactSet, implying 15% downside.
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