MSCI price target raised to $600 from $520 at Argus

Argus raised the firm’s price target on MSCI to $600 from $520 and keeps a Buy rating on the shares. The analyst cites the company’s Q2 earnings beat and recent double-digit dividend hike that signals the management’s confidence. MSCI has an impressive track record, with double-digit annual growth in both sales and EPS, and stands to benefit over time from global GDP growth, the increased popularity of passive investment strategies, and the development of ESG and climate-based investing in developed and emerging economies, the firm tells investors in a research note.