Morgan Stanley Keeps Buy Rating on S&P Global (SPGI), Raises PT

S&P Global Inc. (NYSE:SPGI) is one of the 13 Best Large Cap Stocks to Buy Right Now. On July 7, TipRanks reported that Morgan Stanley analyst Toni Kaplan raised the price target for S&P Global Inc. (NYSE:SPGI) from $587 to $595 and maintained a “Buy” rating.

Kaplan’s positive stance on S&P Global Inc. (NYSE:SPGI) is based on a combination of factors that suggest a positive outlook for the company.

Morgan Stanley Keeps Buy Rating on S&P Global (SPGI), Raises PT

A group of analysts studying data on a large monitor.

Even though credit markets had a challenging quarter, S&P Global Inc. (NYSE:SPGI) performance is expected to be better than previously expected. In June, there was a strong increase in credit issuance.

Because of this pleasant surprise, Morgan Stanley’s analyst increased S&P Global Inc.’s (NYSE:SPGI) earnings per share estimate by 2%, reflecting higher financial expectations for the company.

Additionally, Kaplan expects the company to maintain its full-year ratings revenue guidance, despite a drop in issuance. This further supports the Buy rating.

S&P Global Inc. (NYSE:SPGI) is an American financial intelligence company that provides credit ratings, benchmarks, analytics, and workflow solutions. The company offers data, technology, and expertise to help clients make informed decisions.

While we acknowledge the potential of SPGI as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an AI stock that is more promising than SPGI and that has a 100x upside potential, check out our report about the cheapest AI stock.

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Disclosure: None. This article is originally published at Insider Monkey.