UPDATE: UBS Upgrades MSCI Inc. (MSCI) to Buy
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UBS analyst Alex Kramm upgraded MSCI Inc. (NYSE: MSCI) from Neutral to Buy with a price target of $463.00 (from $452.00).
The analyst comments "We are upgrading MSCI to Buy from Neutral, as 1) we expect strong growth amid several long-term growth opportunities, including ESG & Climate, Fixed Income, and Private Assets, among others; 2) our updated estimates following 4Q earnings put us ~4% and 6% above the Street on FY21 and FY22 EPS, respectively; and 3) shares are down ~11% YTD, marking an attractive opportunity, in our view. To that point, we have been fundamentally positive on the name for some time, but valuation had kept us away in the past. With structural growth trends firmly intact and given the recent pullback, we believe this is the right time to come off the sidelines."
Shares of MSCI Inc. closed at $395.30 yesterday.
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