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Fly News Breaks for October 11, 2016
MSCI
Oct 11, 2016 | 06:16 EDT
Evercore ISI analyst Warren Gardiner downgraded MSCI to Sell and lowered its price target to $75 from $81. The analyst thinks the industry's push towards low cost, passive products will add pressure to MSCI's licensing fees and said it appears competition in analytics is ramping, which could impact management's margin expansion plans. Gardiner does not believe potential fee pressures are reflected in MSCI's valuation and said shares appear priced for perfection.