These Analysts Cut Their Forecasts On MSCI Following Q1 Results
Portfolio Pulse from Avi Kapoor
MSCI Inc reported a 14.8% year-on-year revenue growth to $679.97 million, missing consensus estimates. Adjusted EPS was $3.52, above the consensus of $3.45. Despite upbeat earnings, shares fell 13.4% after the report. Deutsche Bank and Morgan Stanley adjusted their price targets on MSCI, with Deutsche Bank upgrading the stock to Buy.
April 24, 2024 | 11:51 am
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MSCI Inc reported higher Q1 earnings but missed revenue estimates, leading to a 13.4% drop in share price. Deutsche Bank upgraded the stock to Buy, and both Deutsche Bank and Morgan Stanley adjusted their price targets.
The drop in MSCI's share price following the earnings report indicates a negative short-term impact, despite the earnings beat. The adjustments in price targets by Deutsche Bank and Morgan Stanley, along with the upgrade to Buy by Deutsche Bank, suggest a mixed analyst outlook. However, the immediate market reaction was decidedly negative, likely due to the revenue miss and the significant share price drop.
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