RBC Capital Assumes Clarivate Plc (CLVT) at Outperform
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RBC Capital analyst Ashish Sabadra assumes coverage on Clarivate Plc (NYSE: CLVT) with a Outperform rating and a price target of $29.00.
The analyst comments "CLVT is a leader in research intelligence solutions with a large addressable market of $100bn+. It has a recession-resilient business model, and revenue growth should improve to 6-8% exiting 2021. Accretion from the pending ProQuest acquisition along with cost synergies from the CPA Global and DRG acquisitions bode well for accelerated double-digit earnings growth and upside to consensus estimates. The company has strong leadership with solid execution and M&A track record. We believe the pullback has created an attractive buying opportunity. We assume coverage with Outperform and a $29 target price."
Shares of Clarivate Plc closed at $23.16 yesterday.
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