Market Overview

Barclays Makes S&P Global A New Top Pick In Info Services Sector

Barclays Makes S&P Global A New Top Pick In Info Services Sector

Barclays rates S&P Global Inc (NYSE: SPGI) as a new top pick in the information services sector. The comments came after analyst Manav Patnaik met S&P Global CEO Doug Peterson last week at a financials conference. As a result, Patnaik boosted the price target from $140 to $145 on the company's stock, which is currently rated Overweight.

In a research note to clients, the brokerage said, "Our preference for SPGI comes down to the level of 'self-help' remaining at each division: a) Ratings: Revenue catch-up from pricing initiatives and underperforming lines (CMBS, CLO); which will all be margin-accretive, alongside lower legal & regulatory costs."

Referring to CapIQ/SNL, the analyst thinks it is in the very initial stage of revenues and margins growth. Similarly for Platts, Patnaik is impressed by the recorded mid-single-digit growth and sees significant potential, — including cash flow, PIRA and the likes — to improve its analytics offerings, which are in the nascent stage.

Related Link: What Do Corporate Credit Ratings Mean For Investors?

Finally, the brokerage believes it is a well-established fact that its indices are a bellwether, citing diversified exposure to partnerships, trading, AUMs and its entry into fixed income.

S&P Global has been delivering EPS positive surprises between 2.0 percent and 11.2 percent in the last four quarters.

The stock closed Tuesday's regular trading at $124.78 and was up 1.51 percent to $126.66 at time of writing Wednesday.

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Latest Ratings for SPGI

Sep 2020BMO CapitalMaintainsOutperform
Jul 2020JP MorganMaintainsOverweight
Jul 2020StifelMaintainsHold

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