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Fly News Breaks for September 27, 2019
Sep 27, 2019 | 09:22 EDT
DA Davidson analyst Peter Heckmann lowered his price target on FactSet to $240 and kept his Neutral rating to reflect the company's "notably" lower than expected 2020 guidance for margins and earnings. The analyst also lowers his FY20 EPS target by 5.5% to $10.02 and FY21 view by 8% to $10.60, with lower growth/margin rates next year and flattish levels for both the following year. Heckmann adds that the "aspirational growth goal" for FactSet's Annual Subscription Value set by its management represents a "fairly high bar".
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