UPDATE: Barclays Initiates Coverage On Markit

In a research note released Monday, Barclays analyst Manav Patnaik initiated coverage on Markit MRKT with an Equal-weight rating and a $30.00 price target.

The analyst stated that Markit's unique position has made it a viable long-term stock. In addition, the company has attractive financial characteristics and a very good shareholder base.

Some risks include margins, lawsuits and the company's execution as a public company.

Shares traded recently at $25.96, down 2.7 percent.