Evercore ISI Initiates Outperform Rating for S&P Global (SPGI)

A recent report highlights Evercore ISI Group's initiation of coverage for S&P Global (SPGI) with an Outperform recommendation, projecting an 8.24% upside in price. With projected revenue growth and strong institutional interest, the outlook appears favorable for investors.

Date: 03-10-2024

AI Rating: 7

The report outlines several key points affecting the stock price of S&P Global (SPGI). Evercore ISI Group's initiation of coverage with an Outperform recommendation is a strongly positive indicator, suggesting confidence in the company’s future performance.

Furthermore, the analyst price forecast indicates an 8.24% upside, with an average target price of $557.09 per share. This forecast exceeds the latest closing price of $514.70 per share, providing investors a compelling reason to consider the stock.

Regarding earnings, the projected annual revenue for S&P Global is noted to be $13,770MM, reflecting a 3.72% increase. This projected revenue growth is a positive signal, indicating that the company is expected to perform better than in the past year.

The report also provides details on the non-GAAP EPS, projected to be 15.02. Although specific prior EPS values are not mentioned, a rising EPS typically attracts more investor interest, signaling higher profitability.

The fund sentiment towards S&P Global is mixed but has potential upside. There are 2,907 funds2.55%. Additionally, total shares owned by institutions grew by 1.52%, suggesting continued institutional confidence.

The put/call ratio stands at 0.99, indicating a bullish outlook, which adds another layer of optimism regarding SPGI’s stock price movement.

In conclusion, factors such as the Outperform recommendation, favorable analyst price targets, projected revenue growth, and strong institutional sentiment contribute to a positive outlook for S&P Global's stock price.

Stocks: SPGI