Why S&P Global Stock Was a Winner on Wednesday
Three days, three analyst price-target raises: That was the wind behind the sails of S&P Global (NYSE: SPGI) stock on Wednesday, with the financial information specialist's share price rising by almost 3% on day three. That performance was more than good enough to top the 0.7% rise of the S&P 500 index.
Wednesday's raiser was Raymond James pundit Patrick O'Shaughnessy, who now believes S&P Global's fair value is $421 per share. Prior to that, he had a price target of $413. His recommendation on the shares was unchanged: outperform (buy, in other words).
It wasn't immediately apparent why O'Shaughnessy raised his price target, but it's part of a recent trend. Before market open Tuesday, his peer Alex Kramm at UBS made a more drastic move, upping his S&P Global price target to $460 from the preceding $420. Like his Raymond James counterpart, Kramm maintained his buy rating.
Source Fool.com
