MSCI price target raised to $578 from $530 at Wells Fargo

Wells Fargo raised the firm’s price target on MSCI (MSCI) to $578 from $530 and keeps an Equal Weight rating on the shares. The firm sees risk skewed to the downside ahead of MSCI’s Q2 earnings, as the Street is modeling net new too high. Momentum in international passive flows is a positive, but Wells waits to see if it will translate into a rise in active fund formations.