MSCI price target lowered to $655 from $700 at UBS

UBS lowered the firm’s price target on MSCI (MSCI) to $655 from $700 and keeps a Buy rating on the shares. UBS adjusted its estimates primarily on strong debt issuance, recent equity market appreciation, and favorable foreign exchange trends, the analyst tells investors in a research note. While the group broadly underperformed the market in the last three months, valuations are still elevated for several stocks, UBS argues.