Brean Murray Reiterates a 'Buy' on MSCI Inc. (MXB); Price Target Increased

July 2, 2009 3:28 PM EDT

Brean Murray reiterates a 'Buy' on MSCI Inc. (NYSE: MXB). Price target increased to $29.

Brean analyst says, "The company reported a very strong quarter, exceeding our run-rate, revenue and margin forecasts. Equity index business drove the upside in the quarter, as the company saw 2.5% sequential growth in equity index subscriptions and 35.5% sequential growth in asset-based fees. We believe the momentum in ETFs will remain the primary driver of the near-term performance and should compensate for the continued softness in the equity portfolio analytics business. Further, the company continues to widely outperform its adjusted EBITDA margin targets, delivering a 48.8% margin in 2Q09, which was a 300 bp sequential improvement."

To see more analyst ratings on MXB Click Here.

MSCI Inc. (MSCI) is a provider of investment decision support tools, including indices and portfolio risk and performance analytics for use by institutions in managing equity, fixed income and multi-asset class portfolios.

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