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Investing.com - Morgan Stanley (NYSE:MS) has raised its price target on S&P Global (NYSE:SPGI) to $615.00 from $595.00 while maintaining an Overweight rating on the stock.
The price target increase follows what Morgan Stanley described as a "solid beat" on earnings and a guidance raise by the financial information and analytics company.
The research firm noted particularly strong execution in the Market Intelligence segment of S&P Global’s business.
Morgan Stanley indicated that S&P Global’s margin guidance appears conservative, which could position the company well for earnings beats in upcoming quarters.
The firm’s previous price target for S&P Global stock was $595.00 before the increase to the current $615.00 target.
In other recent news, S&P Global Inc. reported second-quarter results that surpassed expectations, with a 6% increase in revenue. The growth was primarily driven by Market Intelligence and S&P Dow Jones Indices. These results highlight the company’s strong performance in these segments. The announcement comes as a positive development for investors. The earnings report underscores the company’s ability to generate revenue growth in its key areas. These recent developments are noteworthy for stakeholders and analysts alike.
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