MSCI price target raised to $640 from $615 at Morgan Stanley

Morgan Stanley analyst Toni Kaplan raised the firm’s price target on MSCI to $640 from $615 and keeps an Overweight rating on the shares. MSCI delivering a “solid result” in Q2, with new sales and cancellation trends improving from the soft Q1 print, helps to alleviate the bear thesis and showed the company’s ability to deliver despite challenging end market conditions, the analyst tells investors in a post-earnings note. The firm, which is raising its FY24 and FY25 adjusted EBITDA estimates by 1% each, sees an “attractive entry point” for what it calls a “best-in-class Info Services stock.”