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UPDATE: Goldman Sachs Initiates Coverage on Dun & Bradstreet on Slower-Than-Expected Turnaround

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In a report published Friday, Goldman Sachs analyst Andre Benjamin initiated coverage on Dun & Bradstreet Corp. (NYSE: DNB) with a Sell rating and $94.00 price target.

In the report, Goldman Sachs noted, “We initiate coverage of DNB with a Sell rating and -11% total return to a $94, 12-month, multiples-based target price vs. 6% upside for rest of coverage. While we believe DNB will show improved EBITDA growth on the back of a new product cycle, we do not believe growth will be as robust as consensus estimates imply due to competitive pressures on pricing and the cost of investing in new product development. Further, we expect growth to remain well below the group average. Shares have outperformed the S&P 500 by 15% YTD, seemingly driven by optimism about the potential for EBITDA growth to reaccelerate; we are 5%/3% below consensus for FY13E/FY14E.”

Dun & Bradstreet Corp. closed on Thursday at $107.91.

Latest Ratings for DNB

DateFirmActionFromTo
Oct 2020JefferiesMaintainsBuy
Jul 2020Stephens & Co.Initiates Coverage OnOverweight
Jul 2020SunTrust Robinson HumphreyInitiates Coverage OnBuy

View More Analyst Ratings for DNB
View the Latest Analyst Ratings

 

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Posted-In: Andre Benjamin Goldman SachsAnalyst Color Initiation Analyst Ratings

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