FactSet Research Systems (FDS) PT Raised to $192 at BofA/Merrill Lynch
BofA/Merrill Lynch raised its price target on FactSet Research Systems (NYSE: FDS) to $192.00 (from $180.00) while maintaining a Neutral rating following the company's 4Q. Organic annual subscription value was up 5.7% YoY in 4QF17 vs +5.7% in 3QF17 and +6.5% in 2QF17.
Analyst David Chu raised EPS estimates on a lower tax rate related to the new SEC stock-based compensation accounting standards. For FY18, expect 10% YoY revenue growth on 5.2% YoY average subscriber growth and 4.7% YoY average revenue per subscriber growth.