UPDATE: Deutsche Bank Upgrades IHS on Positive Outlook
In a report published Friday, Deutsche Bank analyst Paul Ginocchio upgraded IHS (NYSE: IHS) from Hold to Buy, and raised the price target from $105.00 to $125.00.
In the report, Deutsche Bank noted, “IHS shares have not worked YTD or over one year, but we think the improving economy will lead to accelerating revenue growth, just as the uncertain global economy hurt revenue over the last year. This cyclicality combined with the FCF accretion of RL Polk and management's initiatives to accelerate non-subscription revenue should lead to better share price performance going forward. We have raised our price target from $105 to $125, which puts the stock on 17x ‘14E P/FCF at our target.”
IHS closed on Thursday at $111.75.
© 2014 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.