Nasdaq Set For Growth Following Adenza Acquisition: Analyst
Portfolio Pulse from Anusuya Lahiri
RBC Capital analyst Ashish Sabadra has initiated coverage on Nasdaq Inc (NDAQ) with an Outperform rating and a price target of $88, citing growth prospects following the Adenza acquisition. The analyst highlights Nasdaq's strong position in the market, driven by secular trends and a robust solutions revenue growth forecast.
September 27, 2024 | 5:52 pm
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POSITIVE IMPACT
Nasdaq Inc (NDAQ) receives an Outperform rating from RBC Capital with a price target of $88. The Adenza acquisition is expected to enhance growth prospects and recurring revenue, with solutions revenue projected to grow 8%-11% over the mid-term.
The analyst's Outperform rating and $88 price target suggest a positive outlook for Nasdaq, driven by the Adenza acquisition. The acquisition is expected to enhance growth prospects and recurring revenue, with solutions revenue projected to grow 8%-11% over the mid-term. This indicates a likely positive impact on Nasdaq's stock price in the short term.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100