UPDATE: BofA/Merrill Lynch Downgrades FactSet Research Systems (FDS) to Underperform
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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.
Shares of FactSet Research Systems closed at $245.71 yesterday.
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Create E-mail Alert Related CategoriesAnalyst Comments, Analyst PT Change, Downgrades
Related EntitiesBofA/Merrill Lynch
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