S&P Global (SPGI) PT Raised to $555 at Oppenheimer
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Oppenheimer analyst Owen Lau raised the price target on S&P Global (NYSE: SPGI) to $555.00 (from $476.00) while maintaining an Outperform rating.
The analyst commented, "With the SPGI/INFO merger deal expected to close in 4Q21, subject to regulatory approval, we have spent time reviewing and updating our estimates which incorporate INFO. Since the deal announcement, our conversations with investors have largely focused on: 1) can SPGI close the deal?; 2) what are the benefits of this deal?; 3) can SPGI/INFO achieve the revenue and cost synergies as indicated?; 4) what is the estimated accretion/dilution?; and 5) what is the estimated amount of catch-up share repurchases? In summary, we believe that even after the strong run recently, there is additional upside to SPGI if the deal goes through. We are also initiating our 2023 EPS estimate at $16.17, and raising our PT of SPGI from $476 to $550."
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