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S&P Global Receives Mixed Analyst Views on Q2 Earnings, Upside Potential Remains

By Don Francis, Editor
July 30, 2023 6:29 AM UTC
S&P Global Receives Mixed Analyst Views on Q2 Earnings, Upside Potential Remains

Barclays's Manav Patnaik raised their price target on S&P Global Inc (NYSE: SPGI) by 10.59% from $425.00 to $470.00 on 2023/07/28. The analyst maintained their Strong Buy rating on the stock.

Patnaik's view on S&P Global's Q2 2023 earnings was recently published, highlighting the market's response to the company's metrics. According to the analyst, investors were expecting a beat in revenue driven by ratings but were disappointed by the margin flow through. However, Barclays sees the issue as primarily a timing concern related to expense benefit flow through. Patnaik's firm holds the belief that there is potential for upside against S&P Global's FY 2023 earnings guidance.

In addition to Patnaik's analysis, other analysts also weighed in on SPGI on July 28, 2023. Jeffrey Meuler from Baird lowered their price target by -1.96% but maintained a Buy rating on the stock. On the other hand, Owen Lau from Oppenheimer raised their price target by 3.76% and also maintained a Buy rating.

Looking at the overall analyst sentiment, 33.33% of top-rated analysts currently rate SPGI as a Strong Buy, while 66.67% consider it a Buy. No analysts see it as a Hold, and there are no recommendations to sell the stock.

Analysts' consensus forecast for SPGI's upcoming year is an earnings per share (EPS) of $9.85. If their predictions hold true, this would represent a 36.55% increase in yearly EPS on a year-over-year basis.

Examining the stock's performance, SPGI has seen a 60.03% increase in its price since its last quarterly report. Year-over-year, the stock is up 4.69%. However, during this period, SPGI has lagged behind the S&P 500, which has experienced a 12.52% increase.

Manav Patnaik, the Barclays analyst who provided the price target increase and maintained the Strong Buy rating on SPGI, is ranked in the top 7% of Wall Street analysts by WallStreetZen. Patnaik specializes in the Technology and Consumer Cyclical sectors, among others, and boasts an average return of 8.89% with a win rate of 60.18%.

Incorporated in 1860 and headquartered in New York, NY, S&P Global Incorporated offers credit ratings, benchmarks, analytics, and workflow solutions in the global capital, commodity, and automotive markets. The company's data, expertise, and connected technology assist governments, businesses, and individuals in making informed decisions.

Many investors find analysts' recommendations and price targets to be useful data points. However, different investors have different priorities and risk profiles. All investors should conduct their own investment due diligence before buying a stock.

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