UPDATE: Morgan Stanley Reiterates Equal-Weight Rating, Raises PT on FactSet Research Systems as Wait Continues for ASV Reacceleration

In a report published Wednesday, Morgan Stanley analyst Toni Kaplan reiterated an Equal-Weight rating on

, and raised the price target from $100.00 to $102.00. In the report, Morgan Stanley noted, “Results for the quarter were largely in line with our ests, as was F2Q14 guidance, though our prior forecast did not include the Matrix acquisition. User count was flat seq, though up ~3% y/y. ASV growth was up 5.1% y/y, but only 4.5% ex. $4.9M from Revere. Sell-side weakness returned, as two large sell-side customers reduced embedded user counts upon renewal. We remain EW, as valuation continues to be above financial analytics peers (14x C'14 EBITDA vs. an analytics average of ~13x), but the market environment has been weak for some time, though could ultimately show some improvement. We are raising our PT to $102 (from $100).” FactSet Research Systems closed on Tuesday at $109.62.