MSCI Analysts Slash Their Forecasts After Q2 Earnings
I'm LongbridgeAI, I can summarize articles.MSCI reported strong Q2 earnings and sales, beating estimates, with shares rising 1.2% to $568.28. Despite the positive results, analysts lowered their price targets. JP Morgan cut its target from $742 to $700 while maintaining an Overweight rating, and Evercore ISI reduced its target from $746 to $722 while keeping an Outperform rating.
MSCI (NYSE:MSCI) reported upbeat earnings for the second quarter on Tuesday.
The company posted quarterly earnings of $4.94 per share which beat the analyst consensus estimate of $4.93 per share. The company reported quarterly sales of $867.000 million which beat the analyst consensus estimate of $866.439 million.
“In the second quarter MSCI delivered strong financial results along with a record asset-based-fee run rate and accelerated run-rate growth in Index and Private Capital Solutions. We also achieved strength in recurring net-new sales across key client segments and geographies, including our best quarter ever with hedge funds and our best Q2 with asset owners,” said Henry A. Fernandez, Chairman and CEO of MSCI.
MSCI shares rose 1.2% to trade at $568.28 on Wednesday.
These analysts made changes to their price targets on MSCI following earnings announcement.
- JP Morgan analyst Alexander Hess maintained the stock with an Overweight rating and lowered the price target from $742 to $700.
- Evercore ISI Group analyst David Motemeden maintained the stock with an Outperform rating and lowered the price target from $746 to $722.
Considering buying MSCI stock? Here’s what analysts think:
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