FMP
S&P Global Has an Upside Potential With INFO Merger
Sep 16, 2021 7:46 PM - Davit Kirakosyan(Last modified: Dec 19, 2023 5:49 PM)
Image credit: FMP
S&P Global Inc. (NYSE:SPGI) has meaningful upside potential with the merger deal with INFO, which is expected to close in Q4/21, subject to regulatory approval.
Analysts at Oppenheimer believe that even after the strong run recently, there is an additional upside to the company if the deal goes through. They believe that the risk that the deal would be blocked, especially under current heightened regulatory concerns, is still minimal.
Oppenheimer increased its price target on the company’s shares to $550 from $476, maintaining its outperform rating. Even though the company is widely known as one of the largest rating agencies in the world, the non-rating agency businesses actually generate over 50% of revenue, and the brokerage believes it is much more than a rating agency and strives to become a benchmark business.
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