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Why S&P Global's Stock Is Trading Higher Today

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Why S&P Global's Stock Is Trading Higher Today

S&P Global (NYSE: SPGI) shares are trading higher on Wednesday amid market strength and after analysts at multiple firms raised their price targets on the stock. The company on Tuesday reported second-quarter results and raised fiscal year 2020 guidance.

S&P Global provides data and benchmarks to capital and commodity market participants. S&P Ratings, which comprises over 40% of the firm's revenue and over 50% of the firm's operating income, is the largest credit ratings agency in the world. The firm's other segments include Market Intelligence, Indices, and Platts.

Market Intelligence provides desktop tools and other data solutions to investment banks, corporations, and other entities. Indices provides benchmarks for financial markets and is monetized through subscriptions, asset-based fees, and transaction-based royalties. Platts provides benchmarks to commodity markets, principally petroleum

S&P Global shares were trading up 3.44% at $359.23 on Wednesday. The stock has a 52-week high of $359.66 and a 52-week low of $186.06.

 

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