MSCI price target raised to $601 from $555 at Clear Street

Clear Street raised the firm’s price target on MSCI (MSCI) to $601 from $555 and keeps a Hold rating on the shares. The company reported better than expected Q3 earnings, driven by lower tax rate, the analyst tells investors in a research note. The firm believes the board’s $3B share buyback authorization confirms long term confidence. Clear Street attributes the post-earnings rally in MSCI shares to investors having a constructive view on the company’s improving net new subscriber sales and upbeat messaging on artificial intelligence.