MSCI price target raised to $640 from $570 at Wells Fargo

Wells Fargo analyst Seth Weber raised the firm’s price target on MSCI to $640 from $570 and keeps an Overweight rating on the shares. The firm cites strong Q2 beat, big rebound in share repo and upbeat tone with long-term ESG and Climate thesis intact while stabilizing retention, improving net new sales, and higher asset values all bode well.