TSX higher after index snaps two-day losing streak
Investing.com - Seaport Global Securities initiated coverage on S&P Global (NYSE:SPGI) with a Buy rating and a price target of $540.00 on Wednesday.
The research firm cited S&P Global’s dominant market position in its business lines, noting the company ranks either first or second across its segments.
Seaport Global highlighted how the merger with IHS Markit expanded S&P Global’s scope and scale, with CapIQ Pro serving as a key distribution hub for the company’s offerings.
The firm emphasized S&P Global’s strong position in the Credit Rating space, where it shares the majority of the market with Moody’s (NYSE:MCO) and, to a lesser extent, Fitch.
Seaport Global pointed to relative valuation as providing an attractive entry point, with shares trading at approximately a 5x discount to Moody’s, while identifying the Mobility sale and November Investor Day as potential near-term catalysts.
In other recent news, various manufacturing sectors worldwide have shown mixed performance in September. Poland’s manufacturing sector continued to contract, but the pace of decline slowed as the PMI rose to 48.0 from 46.6 in August, according to S&P Global. Meanwhile, Greece’s manufacturing sector maintained positive growth, though at a slower rate, with the PMI decreasing to 52.0 from 54.5. In France, the manufacturing sector faced a contraction, attributed to political uncertainty, with the PMI dropping to 48.2 from 50.4, as reported by S&P Global.
Russia’s manufacturing sector saw an accelerated contraction, with the PMI falling to 48.2 from 48.7, marking a continued decline over four months. In contrast, India’s manufacturing sector expansion slowed, with the PMI decreasing to 57.7 from 59.3, marking a four-month low, based on data from S&P Global. These recent developments reflect varying challenges and conditions faced by manufacturing sectors across different countries.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.