UBS reiterates Buy rating on S&P Global stock, maintains $620 price target

Investing.com - UBS has reiterated its Buy rating on S&P Global (NYSE:SPGI) stock with a price target of $620.00 following the firm’s attendance at SPGI’s Interact NYC client event.

The event primarily showcased S&P Global’s enterprise solutions business and broader market intelligence segment, highlighting the company’s strong position in the financial data and solution space, with particular opportunities in private markets.

UBS noted that S&P Global’s direction following its leadership change appears to be resonating well both internally and externally, with particular emphasis on engaging with clients more holistically.

Artificial intelligence was identified as a constant theme throughout the event, which UBS believes represents more of an opportunity for the company than a risk.

UBS expressed confidence that S&P Global’s market intelligence segment can continue to see improving growth in the near term, supporting the firm’s maintained Buy rating.

In other recent news, S&P Global has announced several significant developments. The company has agreed to acquire With Intelligence for $1.8 billion, a move that will enhance its capabilities in the alternative assets sector. With Intelligence is expected to generate approximately $130 million in revenue by 2025, with annual contract value growth projected in the high teens. Additionally, S&P Global, alongside CME Group, has completed the sale of their joint venture, OSTTRA, to KKR for an enterprise value of $3.1 billion. The proceeds from this sale will be equally divided between S&P Global and CME Group.

In another development, S&P Global Ratings has started delivering Stablecoin Stability Assessments directly to blockchain protocols via Chainlink’s DataLink service. This marks the first time institutional risk assessments are available on-chain, providing real-time access for decentralized finance applications. Furthermore, Morgan Stanley has raised its price target for S&P Global to $620, maintaining an Overweight rating on the stock due to its growth potential in high-growth areas. Lastly, the S&P Global Kuwait Purchasing Managers’ Index indicated a slowdown in Kuwait’s non-oil private sector growth, with the index dipping to 52.2 in September.

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