S&P Global price target raised to $610 from $605 at UBS

UBS raised the firm’s price target on S&P Global to $610 from $605 and keeps a Buy rating on the shares. S&P Global significantly underperformed following Q3 results, as solid results in most segments and a guidance raise was overshadowed by another disappointing quarter in Market Intelligence, which represents just 20%-25% of operating income, but the business was scaled up with the IHS Markit acquisition and was supposed to drive growth accretion from synergies, the analyst tells investors in a research note. The firm is hopeful that a change in leadership can drive better performance even in a tougher environment, and believes the diversified business remains positioned for attractive earnings growth next year, with potential for more to be unlocked.