UPDATE: Deutsche Bank Upgrades Verisk Analytics (VRSK) to Buy
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Deutsche Bank analyst Ashish Sabadra upgraded Verisk Analytics (NASDAQ: VRSK) from Hold to Buy with a price target of $196.00 (from $192.00).
The analyst comments "We belive the stock pullback has created an attractive buying opportunity, as revenue growth should improve going forward driven by sustained strength in subscription revenues and recovery in transaction revenues that were impacted by COVID-19. Energy and Specialized Markets revenues should benefit from improving Oil prices and strength in energy transition offerings given increased focus on ESG. Separately, digitalization accelerated by COVID and InsurTech, new product innovation such as telematics, and increased cybersecurity, catastrophe, and pandemic risk should continue to drive greater demand for Insurance data and analytics. Although, Financial Services segment could remain challenged near-term, it now accounts for only 5% of revenues and ~3% of EBITDA with the potential for divestiture. Overall, we expect company organic revenue growth to improve throughout the year and deliver on the long-term organic revenue growth guidance of 7-8% starting 4Q21."
Shares of Verisk Analytics closed at $168.45 yesterday.
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