Cantor Fitzgerald analyst Joseph Foresi maintained a Buy rating on S&P Global Inc (SPGI) today and set a price target of $209. The company’s shares closed yesterday at $183.19.
“. We maintain our Overweight rating on S&P Global and our 12-month PT of $209 following a recent trip with management. We are attracted to SPGI’s advantageous market positioning and ability to generate steady growth and its potential upside to numbers. The Ratings segment appears strong despite a poor 3Q18. China is seen as an opportunity as are improving margins. The addition of analytics (Kensho) is seen as a long-term opportunity. Management continues to expect a steady capital allocation.”
According to TipRanks.com, Foresi is a top 25 analyst with an average return of 16.4% and a 75.4% success rate. Foresi covers the Technology sector, focusing on stocks such as Jack Henry & Associates, Fidelity National Info, and DXC Technology Company.
Currently, the analyst consensus on S&P Global Inc is a Moderate Buy with an average price target of $205.44, a 12.1% upside from current levels. In a report issued on November 14, Goldman Sachs also initiated coverage with a Buy rating on the stock with a $225 price target.
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Based on S&P Global Inc’s latest earnings release for the quarter ending September 30, the company reported a quarterly revenue of $1.55 billion and net profit of $495 million. In comparison, last year the company earned revenue of $1.51 billion and had a net profit of $414 million.
Based on the recent corporate insider activity of 52 insiders, corporate insider sentiment is negative on the stock.
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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.