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In a report published Tuesday, Deutsche Bank analyst Paul Ginocchio downgraded the rating on
Verisk AnalyticsVRSK from Buy to Hold, and lowered the price target from $68.00 to $67.00.
In the report, Deutsche Bank noted, “With the recent climb in the stock, it's now close to our price target. Key reasons for our downgrade: 1) total US Medicare Advantage (MA) enrollment growth is expected to slow into '15, making share gains more important to VRSK's largest Healthcare segment; 2) insurance industry premium growth has decelerated to flat YoY, which could drive slightly slower insurance rev growth in 2015; and 3) we think any share price outperformance will come only from earnings beats and not multiple expansion. We trim ‘15E Healthcare rev growth by 2pts to 12% YoY, which reduces ‘15E EPS by 1.5% from $2.68 to $2.64, vs $2.70 consensus. We trim our price by $1 to $67. Hold.”
Verisk Analytics closed on Monday at $63.99.
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