Goldman Sachs analyst George Tong upgraded MSCI (MSCI) to Buy from Neutral with a price target of $723, up from $617. The company’s conditions on the buy-side, which generates approximately 80% of total revenue, are improving following six quarters of underperformance marked by fund closures, restructurings and consolidations, the analyst tells investors in a research note. The firm expects the positive momentum to continue into 2025 due to a broadening of stock returns beyond the large cap tech sector under a Trump administration. Goldman sees “attractive upside potential” in MSCI shares driven by earnings growth in 2025 and 2026 that comes above consensus expectations and valuation multiple expansion.
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