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Investing.com - BMO Capital raised its price target on FactSet Research Systems (NYSE:FDS) to $452 from $448 on Monday, while maintaining a Market Perform rating on the stock.
The research firm noted that FactSet reported an adjusted earnings per share miss in its fiscal third quarter 2024 results, primarily due to margin pressure despite the quarter benefiting from one-time items.
BMO Capital observed that Annual Subscription Value (ASV) growth remained stable on the Buy-side, while Sell-side ASV improved due to reduced cancellations, better headcount growth, and new product initiatives.
FactSet management reaffirmed its fiscal year 2025 guidance, indicating expectations for expenses to increase in the fourth quarter of fiscal 2025 driven by generative AI and other projects.
BMO Capital adjusted its estimates for FactSet following the earnings report, resulting in the modest price target increase while maintaining its neutral Market Perform rating on the financial data provider.
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