Goldman Sachs reiterated a Sell rating on FactSet Research Systems (NYSE: FDS) following Q1 results but bumped its price target to $126.00 (from $125.00).

Analyst Andre Benjamin says "...we expect FDS continues to outgrow its desktop peers and benefit from non-workstation growth, we believe the latest results support our “2017 slowdown” thesis driven by a negative environment for selling to capital markets clients."

Mr. Benjamin sees compressed multiples and negative EBITDA revisions in the face of organic ASV growth continuing to decelerate, down from 8% in Q1 2017 to 6% in Q2 2017.

Shares of FaceSet closed Tuesday's regular session down $3.89 or ~2.35% to $161.28.

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