Information Provided By:
Fly News Breaks for March 27, 2019
Mar 27, 2019 | 07:37 EDT
DA Davidson analyst Peter Heckmann raised his price target on FactSet to $214 after its "solid" Q2 results and upward adjustment to the midpoint of its FY19 earnings guidance. The analyst is citing the management's increased focus on operating expenses and favorable FX changes, but also points to the company's constant-currency organic revenue growth of 5.7% coming on the lower end of the recent 5.5%-6.5% range. Heckmann is keeping his Neutral rating on FactSet and contends that its "valuation seems full", even though he still sees the company "well positioned to generate solid growth in revenue and earnings in the intermediate term".