Goldman Sachs Starts FactSet Research Systems (FDS) at Sell

Goldman Sachs initiates coverage on FactSet Research Systems (NYSE: FDS) with a Sell. PT $79.00.

The firm comments, "We see 6% revenue and 7% earnings growth in FY13, vs. 11%/14% in FY12. Our 2013/14 EPS are 2% / 6% below consensus as we believe sell-side changes are more structural than cyclical. Valuation implies a return to 10%+ revenue and teens EPS growth vs. the 7-10% EPS growth we see in a stagnant sell-side environment. Though FDS offers high quality service and a history of strong shareholder returns, we prefer peers that also trade around 6% FCF yield (NLSN, IT, IHS) yet offer 12-18% EPS growth in 2013."

For an analyst ratings summary and ratings history on FactSet Research Systems click here. For more ratings news on FactSet Research Systems click here.

Shares of FactSet Research Systems closed at $90.01 yesterday.

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