Goldman Sachs Upgrades S&P Global (SPGI) to Conviction Buy
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(Updated - July 8, 2020 5:13 AM EDT)
Goldman Sachs analyst George Tong upgraded S&P Global (NYSE: SPGI) from Buy to Conviction Buy with a price target of $397.00 (from $336.00).
The analyst comments "We believe S&P is a classic compounder in Info Services, with a wide competitive moat across its business lines in the context of its scale, brand and proprietary nature of its data and services. We expect S&P’s non-ratings businesses to deliver mid-to-high single digit average annual revenue growth over the next three years due to the sticky and subscription-based nature of revenue streams. While we look for overall ratings revenue to be relatively flat this year, we believe strength in investment grade can drive upside to our estimates and FactSet consensus."
Shares of S&P Global closed at $341.19 yesterday.
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Create E-mail Alert Related CategoriesAnalyst Comments, Analyst PT Change, Hot Comments, Hot Upgrades, Upgrades
Related EntitiesGoldman Sachs Conviction Buy List, Goldman Sachs, Standard & Poor's
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