UPDATE: BofA/Merrill Lynch Downgrades FactSet Research Systems (FDS) to Underperform

September 27, 2019 6:02 AM EDT
Get Alerts FDS Hot Sheet
Price: $330.63 +0.64%

Rating Summary:
    0 Buy, 17 Hold, 4 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 11 | Down: 5 | New: 41
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(Updated - September 27, 2019 9:27 AM EDT)

(updated to add analyst comments)

BofA/Merrill Lynch analyst David Chu downgraded FactSet Research Systems (NYSE: FDS) from Neutral to Underperform and cut its price target to $230 (from $300).

  • skeptical on 3-year plan given tough operating environment and as peers are making similar investments
  • downgrade on execution risks around tech initiatives, moderating ASV growth & declining margins near term
  • Lowering FY20E EPS by 5% to $9.98; FY21E to $10.33.

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 $245.71 yesterday.

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