Wells Fargo & Company Issues Positive Forecast for S&P Global (NYSE:SPGI) Stock Price

S&P Global (NYSE:SPGI) had its price target lifted by investment analysts at Wells Fargo & Company from $525.00 to $545.00 in a research note issued to investors on Wednesday, Benzinga reports. The brokerage currently has an “overweight” rating on the business services provider’s stock. Wells Fargo & Company‘s price objective would suggest a potential upside of 21.24% from the stock’s current price.

A number of other equities analysts have also issued reports on SPGI. Mizuho decreased their price target on S&P Global from $554.00 to $531.00 and set an “outperform” rating for the company in a research note on Monday, October 5th. Zacks Research upgraded shares of S&P Global from a “strong sell” rating to a “hold” rating in a research report on Monday, September 14th. Citigroup reissued a “buy” rating on shares of S&P Global in a report on Wednesday. JPMorgan Chase & Co. decreased their price objective on S&P Global from $530.00 to $520.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 14th. Finally, Royal Bank Of Canada reissued an “outperform” rating and issued a $510.00 price target on shares of S&P Global in a report on Wednesday, August 26th. Eighteen equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $519.29.

S&P Global Stock Performance

SPGI stock opened at $449.52 on Wednesday. The stock’s 50 day moving average is $419.64 and its two-hundred day moving average is $432.90. S&P Global has a 52-week low of $381.61 and a 52-week high of $552.25.

S&P Global (NYSE:SPGI) last posted its quarterly earnings results on Tuesday, October 27th. The business services provider reported $4.58 EPS for the quarter, topping analysts’ consensus estimates of $4.43 by $0.15. The firm had revenue of $3.68 billion during the quarter, compared to analyst estimates of $3.64 billion. The firm’s revenue for the quarter was up 6.8% on a year-over-year basis. During the same quarter last year, the business posted $4.73 earnings per share. As a group, equities research analysts predict that S&P Global will post 17.69 EPS for the current fiscal year.

Hedge Funds Weigh In On S&P Global

Large investors have recently bought and sold shares of the company. Elwood & Goetz Wealth Advisory Group LLC raised its position in S&P Global by 15.2% in the 3rd quarter. Elwood & Goetz Wealth Advisory Group LLC now owns 728 shares of the business services provider’s stock worth $287,000 after purchasing an additional 96 shares during the period. Sage Rhino Capital LLC grew its holdings in S&P Global by 0.7% in the third quarter. Sage Rhino Capital LLC now owns 3,848 shares of the business services provider’s stock worth $1,518,000 after purchasing an additional 25 shares during the last quarter. DecisionPoint Financial LLC increased its holdings in shares of S&P Global by 11,550.0% during the third quarter. DecisionPoint Financial LLC now owns 233 shares of the business services provider’s stock valued at $90,000 after acquiring an additional 231 shares in the last quarter. WPG Advisers LLC grew its holdings in shares of S&P Global by 47.0% during the third quarter. WPG Advisers LLC now owns 147 shares of the business services provider’s stock valued at $58,000 after buying an additional 47 shares during the last quarter. Finally, Pinnacle Wealth Planning Services Inc. raised its position in S&P Global by 8.1% during the 3rd quarter. Pinnacle Wealth Planning Services Inc. now owns 2,046 shares of the business services provider’s stock worth $807,000 after buying an additional 153 shares during the last quarter. 87.17% of the stock is currently owned by institutional investors.

Trending Headlines about S&P Global

Here are the key news stories impacting S&P Global this week:

• Positive Sentiment: Q3 earnings and outlook exceeded expectations. S&P Global reported adjusted EPS of $4.58 versus the $4.43 consensus and revenue of $3.68 billion versus $3.64 billion expected. Revenue increased 6.8% year over year, and the company raised its full-year outlook. Growth was particularly strong in its Indices and Market Intelligence businesses. S&P Global Reports Third Quarter Results
• Positive Sentiment: Analyst confidence improved. Morgan Stanley raised its price target from $477 to $515 and maintained an “overweight” rating, implying additional upside based on the referenced share price. The company also expects full-year share repurchases to exceed $7 billion, supporting per-share earnings and shareholder returns. Morgan Stanley rating
• Positive Sentiment: New data and index partnerships could broaden recurring revenue. S&P Dow Jones Indices agreed to launch co-branded commodity benchmarks with Quantix, while S&P Global Ratings expanded its Chainlink collaboration to make Vault Risk Assessment data available onchain. These initiatives could increase licensing, benchmark and risk-data usage across traditional and digital finance. S&P DJI and Quantix collaboration
• Neutral Sentiment: Capital IQ strategic review is the key valuation issue. Management is evaluating strategic alternatives for Capital IQ, Kensho and related data businesses, potentially including a separation. A transaction could unlock value by allowing the businesses to pursue different strategies, but investors lack details on timing, structure and financial impact. S&P Global explores Capital IQ separation
• Negative Sentiment: Investors initially focused on the separation risk. Despite the earnings beat, the stock came under pressure as markets weighed the potential “spinoff math,” execution risks and uncertainty over the future growth profile of S&P Global’s financial-data operations. EPS also declined from $4.73 in the prior-year quarter, tempering the headline earnings beat. S&P Global price swing analysis

About S&P Global

S&P Global (NYSE: SPGI) is a global provider of financial information, analytics, benchmarks and credit ratings. Its services are used by investors, corporations, governments and other organizations to evaluate risk, assess markets, support investment decisions and manage business operations.

The company operates through businesses including S&P Global Ratings, which provides credit ratings and related research; S&P Global Market Intelligence, which delivers data, research and analytics on companies, markets and industries; and S&P Global Commodity Insights, which supplies information and analysis for energy and commodity markets.