S&P Global (SPGI) Receives a Buy from Oppenheimer

In a report released today, Owen Lau from Oppenheimer assigned a Buy rating to S&P Global (SPGIResearch Report), with a price target of $399.00. The company’s shares closed last Monday at $333.55.

According to TipRanks.com, Lau is a 2-star analyst with an average return of 0.9% and a 46.4% success rate. Lau covers the Financial sector, focusing on stocks such as Intercontinental Exchange, Victory Capital Holdings, and Focus Financial Partners.

Currently, the analyst consensus on S&P Global is a Strong Buy with an average price target of $393.33, representing a 18.1% upside. In a report issued on October 12, Morgan Stanley also maintained a Buy rating on the stock with a $404.00 price target.

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Based on S&P Global’s latest earnings release for the quarter ending June 30, the company reported a quarterly revenue of $1.94 billion and net profit of $792 million. In comparison, last year the company earned revenue of $1.7 billion and had a net profit of $555 million.

Based on the recent corporate insider activity of 55 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of SPGI in relation to earlier this year.

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S&P Global, Inc. engages in the provision of transparent and independent ratings, benchmarks, analytics and data to the capital and commodity markets worldwide. It operates through the following segments: Ratings, Market Intelligence, Platts and Indices. The Ratings segment offers credit ratings, research, and analytics to investors, issuers, and other market participants. The Market Intelligence provides multi-asset-class data, research and analytical capabilities, which integrate cross-asset analytics and desktop services. The Platts segment provides information and benchmark prices for the commodity and energy markets. The Indices segment provides variety of valuation and index benchmarks for investment advisors, wealth managers and institutional investors. The company was founded by James H. McGraw and John A. Hill in 1917 and is headquartered in New York, NY.