MSCI price target lowered to $533 from $578 at Wells Fargo

Wells Fargo lowered the firm’s price target on MSCI (MSCI) to $533 from $578 and keeps an Equal Weight rating on the shares. Net new missed Street estimates, and management commentary around secular headwinds impacting active asset managers overshadowed the top-line and EPS beat, the firm says. Some investors have raised concern over the long-term re-acceleration in index subscription growth, Wells adds.