Goldman Sachs lowered the firm’s price target on MSCI (MSCI) to $668 from $681 but keeps a Buy rating on the shares. The firm’s proprietary high frequency trackers are showing strong assets-under-management growth trends, and Goldman has lifted its Index asset-based fee growth forecast for Q1 from 12.0% y/y to 25.0%, while keeping its subscription revenue growth forecasts for the quarter essentially unchanged, the analyst tells investors in a research note. MSCI benefits from a wide competitive moat, proprietary data, strong AI positioning and secular tailwinds, and the firm expects a reacceleration in organic revenue growth to the low-double-digits over the medium-term to drive valuation upside in the shares, Goldman added.
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