Piper Jaffray Upgrades FactSet Research (FDS) to Neutral; Stabilizing Passwords
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Piper Jaffray & Co. upgrades FactSet Research (NYSE: FDS) from Underweight to Neutral.
Piper analyst says, "FactSet's F4Q results were largely in line with expectations, but a slightly improved sequential trend in passwords (a measure of unit volume) gives hope that we are at or passed the bottom of the current cycle. A significant short position in the shares likely boosted the stock's response (up 8.5% vs. a 0.5% move in the S&P500) to the F4Q's evidence of stable/improving momentum."
"While we do not anticipate a robust near-term rebound in passwords, the combination of stable passwords and rising revenue/password (a function of pricing, mix and increased sell-through of FDS proprietary data) suggests a reacceleration in revenue growth in the second half of F2010 vs. our prior expectation of a F2011 recovery. We are boosting our F2010 estimate to $3.05 from $2.99. Our F2011 estimate moves to $3.43 from $3.28."
To see more analyst ratings on FDS Click Here.
FactSet Research Systems, Inc. provides financial and economic information, including fundamental financial data on various companies to the investment community worldwide.
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