RBC Capital Reiterates Sector Perform Rating on FactSet Research Systems (FDS)
RBC Capital analyst Ashish Sabadra reiterated a Sector Perform rating and $464.00 price target on FactSet Research Systems (NYSE: FDS)
The analyst comments "The CS-UBS ASV headwind of 30bps in 3Q24 was lower than feared and cleared up one of the key overhangs on the stock. In addition, two new client wins in a tough macro, reflecting positively on the strong value proposition and competitive market positioning. However, 4Q24 implied ASV guidance of 4.75% at the mid-point is still optimistic, given constrained client budgets, an elongated sales cycle, and an anemic banking analyst class size. Additionally, margins could decline in FY25 given the 3 strategic investment areas and if FDS used a similar playbook as the FY20- FY22 investment cycle."
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Shares of FactSet Research Systems closed at $423.73 yesterday.