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Fly News Breaks for December 19, 2018
FDS
Dec 19, 2018 | 08:20 EDT
DA Davidson analyst Peter Heckmann raised his price target on FactSet to $206 after its Q1 results topped expectations on earnings and revenue, even though he notes that the 4% decline in its stock price suggests that investors were "hoping for a bit more". The analyst points to the company's 6.6% organic revenue growth and the addition of 23K users to its platform to a total of 115K from the migration of the Merrill Lynch Wealth Management deal, noting that the management's FY19 growth guidance could prove to be "potentially conservative". Heckmann is keeping his Neutral rating on FactSet.
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