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MSCI upgraded to Outperform from Market Perform at Raymond James

Raymond James analyst Patrick O’Shaughnessy upgraded MSCI (MSCI) to Outperform from Market Perform with a $650 price target The firm believes the company still warrants a premium valuation despite it slower growth outlook relative to its history. MSCI’s index subscription pricing power is “very much intact” given the the sticky nature of active asset manager benchmarks while the company’s revenue retention in its index segment has normalized, the analyst tells investors in a research note. Raymond James also believes the shift towards passive investment vehicles continues to benefit MSCI. It sees an attractive entry point at current share levels.

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