UPDATE: Morgan Stanley Initiates Equal-Weight on FactSet Research Systems; Valuation Full

Morgan Stanley initiates its coverage on FactSet Research Systems

with an Equal-weight as it believes it is a premium business at a premium valuation. Morgan Stanley says, "We initiate on FDS at EW with a $102 PT based on our view that FDS is positioned for superior top-line growth, though is fairly valued relative to its analytics peers." FDS closed at $103.69 on Friday.