Cantor Fitzgerald analyst Joseph Foresi maintained a Buy rating on S&P Global Inc (NYSE: SPGI) today and set a price target of $218. The company’s shares closed yesterday at $199.82, close to its 52-week high of $202.75.
Foresi said:
“. We maintain our Overweight rating on S&P Global and our PT of $218. We are attracted to SPGI’s advantageous market positioning and ability to generate steady growth and potential upside to numbers. We attended S&P Global’s Investor day focused on centering the company around technology. Long- term expectations are for mid-to-high single digit revenue growth, continued margin expansion and share buybacks, which taken together should drive significant growth to earnings.”
According to TipRanks.com, Foresi is a top 25 analyst with an average return of 17.3% and a 82.4% success rate. Foresi covers the Technology sector, focusing on stocks such as Jack Henry & Associates, Fidelity National Info, and DXC Technology Company.
S&P Global Inc has an analyst consensus of Moderate Buy, with a price target consensus of $205.
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Based on S&P Global Inc’s latest earnings release for the quarter ending March 31, the company reported a quarterly revenue of $1.57 billion and net profit of $491 million. In comparison, last year the company earned revenue of $1.45 billion and had a net profit of $399 million.
Based on the recent corporate insider activity of 50 insiders, corporate insider sentiment is negative on the stock. Most recently, in March 2018, John Berisford, the President of SPGI sold 15,902 shares for a total of $3,056,102.
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S&P Global, Inc. engages in the provision of transparent and independent ratings, benchmarks, analytics and data to the capital and commodity markets worldwide. It operates through the following segments: Ratings, Market and Commodities Intelligence, and Indices.
