BofA raised the firm’s price target on S&P Global to $540 from $530 and keeps a Buy rating on the shares. S&P will report Q2 earnings before the market open on July 30 and the firm expects a strong quarter, boosted by outsized Ratings and Index sales strength, the analyst tells investors in a preview note. The firm thinks S&P can deliver on its plan for improving Market Intelligence sales through 2024 driven by new products and IHS synergies and thinks this idiosyncratic growth will warrant a higher multiple, the analyst added.
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