MSCI price target raised to $650 from $600 at Barclays

Barclays analyst Manav Patnaik raised the firm’s price target on MSCI to $650 from $600 and keeps an Overweight rating on the shares after its Q2 earnings beat. The tone of the company’s earnings call was notably more positive, putting to bed the “worst case ESG fears” that might have surfaced after the management’s commentary following last quarter’s results, the analyst tells investors in a research note. Q2 also marks the 38th consecutive quarter of double-digit Index Subscription growth, which exemplifies why MSCI continues to warrant a high multiple, the firm added.