MSCI price target raised to $638 from $609 at Clear Street

Clear Street raised the firm’s price target on MSCI (MSCI) to $638 from $609 and keeps a Hold rating on the shares. The company reported better-than-expected adjusted EPS for Q3, driven by lower expense than expected, the analyst tells investors in a research note. While operating revenue was “a touch below” the firm’s estimates, net new subs and run-rate growth were strong, indicating an improving outlook, the analyst adds. The firm believes the implied 2026 free cash flow growth of about 3% at the guidance midpoint understates the underlying run-rate growth of about 13% year-over-year.