MSCI initiated with an Outperform at Evercore ISI

Evercore ISI initiated coverage of MSCI with an Outperform rating and $690 price target naming it as the analyst’s top pick among business services and insurance brokers. MSCI’s Index recurring revenue growth should reaccelerate as the lagged impact of capital market appreciation results in a better selling environment in 2025, contends the analyst, who believes recent weakness in new recurring Index sales has been partly driven by the lagged impact of the 2022 equity market drawdown, which is now being lapped.