Wells Fargo initiated coverage of S&P Global with an Overweight rating and $575 price target. S&P Global has already overachieved on cost synergies, and is ahead on revenue synergies with NPIs expected to contribute more meaningfully in the second half of 2024 and into 2025, the analyst says. The firm also expects S&P to capitalize on ramping debt maturities, currently peaking in 2028, as a leading credit rating agency.
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