UPDATE: Morgan Stanley Reiterates On FactSet Research Systems Inc. As Top Line Metrics Continue To Accelerate

In a report published Wednesday, Morgan Stanley analyst Toni Kaplan reiterated an Equal-Weight rating on FactSet Research Systems Inc. FDS, and raised the price target from $120.00 to $124.00. In the report, Morgan Stanley noted, “We remain neutral on FDS based on valuation and our view that competition is heavily investing to catch up to FDS in terms of product quality, presenting a risk to future growth. Multiple expansion/contraction will depend on FDS' ability to reaccelerate growth. We assume a 4-yr CAGR ('14-'17) of 7.5% for revenues with operating margins of 34% in 2017.” FactSet Research Systems Inc. closed on Tuesday at $126.76.