S&P Global price target raised to $470 from $425 at Barclays

Barclays raised the firm’s price target on S&P Global to $470 from $425 and keeps an Overweight rating on the shares post the Q2 results. Investors expected the Ratings-driven revenue beat but were disappointed by margin flow through, the analyst tells investors in a research note. However, the firm says the issue was largely just timing of expense benefit flow through and there remains upside to S&P Global’s fiscal 2023 earnings guidance.