MSCI initiated with a Hold at Clear Street

Clear Street initiated coverage of MSCI (MSCI) with a Hold rating and $555 price target The company has high recurring revenue, healthy growth rate, high margin, and high retention rate, leading to a sustained high multiple for the stock, the analyst tells investors in a research note. The firm believes MSCI is a high quality stock, but the slowdown in the growth rate of Sustainability products has brought down overall revenue growth, therefore the firm will wait for the right entry point to get more constructive on the shares.