In a report released today, Joseph Foresi from Cantor Fitzgerald maintained a Buy rating on S&P Global Inc (SPGI), with a price target of $209. The company’s shares closed on Friday at $174.75.
Foresi wrote:
“Our Overweight rating on SPGI is based on SPGI’s advantageous market positioning and ability to generate steady growth and potential upside to numbers. We believe SPGI should trade at a discount to the group, due to risks associated with the Ratings business. Valuation Summary Our price target is based on 22x our 2019 EPS estimate, 16x our 2019 EV/EBITDA estimate and 23x our 2019 EV/FCF estimate.”
According to TipRanks.com, Foresi is a top 100 analyst with an average return of 14.4% and a 67.6% 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 $205.44, implying a 17.6% 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.
