UPDATE: UBS Downgrades FactSet Research Systems (FDS) to Sell
Get Alerts FDS Hot Sheet
Rating Summary:
5 Buy, 19 Hold, 1 Sell
Rating Trend: Up
Today's Overall Ratings:
Up: 20 | Down: 14 | New: 22
Join SI Premium – FREE
UBS downgraded FactSet Research Systems (NYSE: FDS) from Neutral to Sell with a price target of $138.00. Analyst Alex Kramm said industry headwinds are too strong to ignore.
"After several months marked by downward movement and volatility in equity markets, we believe FDS's client-base will have to reassess its ability to spend. ASV growth rates slowed following the financial crisis, for instance, and although FDS delivered consecutive quarters of accelerating growth and multiple expansion during a more recent period of improving macro conditions, YTD downward pressure will likely impact budgets in the near term," said the analyst.
Kramm added, " In fact, we have already heard that parts of FDS's customer base are taking a hard look at budgets, and as was already reflected in January metrics released last Friday, buy side employment could be under pressure for quarters to come. With the macro environment stumbling at the end of 2015 and worsening to start 2016, we are reducing estimates and believe valuation will move lower."
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 $158.43 yesterday.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Mizuho Downgrades Amylyx Pharmaceuticals inc. (AMLX) to Neutral
- Darden Restaurants (DRI) PT Raised to $190 at Stifel
- CFRA Downgrades Swiss Life Holding (SLHN:SW) (SZLMY) to Sell
Create E-mail Alert Related Categories
Analyst Comments, Analyst EPS View, Downgrades, Hot DowngradesRelated Entities
UBSSign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!