FactSet Research Systems (FDS) PT Lowered to $322 at Stifel, Margins Likely Top Out at 34%

March 31, 2021 8:37 AM EDT
Get Alerts FDS Hot Sheet
Price: $323.79 +0.63%

Rating Summary:
    0 Buy, 17 Hold, 4 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 18 | Down: 10 | New: 17
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Stifel analyst Shlomo Rosenbaum lowered the price target on FactSet Research Systems (NYSE: FDS) to $322.00 (from $335.00) noting that the Company continues to make progress on the cloud migration work. To date, the work is 50% completed but the flipside is some pressure on margins.

The analyst maintained a Hold rating, stating "We do not envision the company materially getting past the historical 33%-34% margin range due to continuous product offering reinvestment needs to remain competitive in the marketplace (SPGI noted a similar experience in the Market Intelligence segment a while back). We are lowering Adjusted EPS estimates to reflect less margin expansion, and are lowering our target price from $335 to $322 to reflect the lower estimates and lower Info Services comp valuations."



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