S&P Global: Why The Market Isn't Responding To The Q3 2024 Beat
Summary
- S&P Global exceeded Q3 expectations with 16% revenue growth and 21% adjusted EPS growth, but shares fell due to concerns about future demand pull-forward.
- Despite short-term worries, S&P Global is well-positioned for market-beating revenue and EPS growth, driven by diversified segments and operational leverage.
- With current valuation in the 30x earnings range, I reiterate a 'Buy' rating, targeting $577 per share by late-2025 for 17% upside.
Analyst’s Disclosure:I/we have a beneficial long position in the shares of SPGI either through stock ownership, options, or other derivatives. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.
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