Fiserv earnings missed by $0.61, revenue fell short of estimates
Investing.com - Keefe, Bruyette & Woods (KBW) raised its price target on London Stock Exchange Group Plc. (LSEG:LN) to GBP119.00 from GBP115.00 on Monday, while maintaining an Outperform rating on the stock.
The adjustment follows LSEG’s recent financial performance, which showed total income excluding recoveries of £2,219 million, slightly below KBW’s estimate of £2,221 million but ahead of the consensus expectation of £2,217 million.
Gross profit came in at £2,016 million, exceeding both KBW’s projection of £2,012 million and the consensus estimate of £2,009 million, demonstrating solid underlying performance for the exchange operator.
KBW cited lower expected cost of sales related to the announced SwapClear changes as a key factor in its decision to raise forward estimates for the company.
The revised 12-month price target of 11,900 pence (GBP119.00) also reflects KBW’s higher repurchase assumptions for London Stock Exchange Group, which trades on the London Stock Exchange and over-the-counter in the U.S. (OTC:LNSTY).
In other recent news, London Stock Exchange Group Plc. reported its latest earnings, showing an adjusted earnings per share that exceeded Keefe, Bruyette & Woods’ estimates by 8.5p. Additionally, the company’s adjusted EBITDA surpassed expectations by a smaller margin of 1.0p. Following these earnings results, Keefe, Bruyette & Woods lowered its price target for the company to GBP123.00 from GBP125.00, while maintaining an Outperform rating.
In contrast, UBS raised its price target for London Stock Exchange Group to GBP110.00 from GBP105.00, keeping a Buy rating on the stock. These developments come amid investor concerns about competitive threats from artificial intelligence, which have contributed to a decline in LSEG shares over the past three months. Despite differing price target adjustments, both firms maintain positive ratings on the stock. These recent developments highlight the varied perspectives among analysts on London Stock Exchange Group’s future performance.
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