UPDATE: Goldman Sachs Initiates Coverage on Verisk Analytics Awaiting Greater Visibility Into Upselling Potential

In a report published Friday, Goldman Sachs analyst Andre Benjamin initiated coverage on

with a Neutral rating and $68.00 price target. In the report, Goldman Sachs noted, “We initiate coverage of VRSK with a Neutral rating and a $68 12-month EV/EBITDA-based target price for 2% total return vs. 4% average upside for coverage. VRSK's property and casualty (P&C) insurance claims database has one of the strongest competitive advantages of any business we cover, with its very high pricing power translating into top quartile EBITDA margins. Street sentiment towards VRSK very favorable already, with shares +58%/+10% vs. the S&P 500 since Jan 2011/YTD – primarily driven by P&C premium growth (increases confidence in potential to upsell due to a larger ‘customer wallet') and investors becoming more positive on potential healthcare business growth after acquisitions strengthened competitive positioning in our view.” Verisk Analytics closed on Thursday at $66.53.