Financials

MSCI Expects FY24 Capex of $95M-$105M, Free Cash Flow of $1.225B-$1,285B

Full-Year 2024 Guidance MSCI’s guidance for the year ending December 31, 2024 (“Full-Year 2024”) is based on assumptions about a number of factors, in particular related to macroeconomic factors and the capital markets. These assumptions are subject to uncertainty, and actual results for the year could differ materially from our current guidance, including as a result of the uncertainties, risks and assumptions discussed in the “Risk Factors” and “Management’s Discussion and Analysis of Financial Condition and Results of Operations” sections of our Annual Report on Form 10-K, as updated in quarterly reports on Form 10-Q and current reports on Form 8-K filed or furnished with the SEC. See “Forward-Looking Statements” below. Guidance Item Guidance for Full-Year 2024 Operating Expense $1,300 to $1,340 million Adjusted EBITDA Expense $1,130 to $1,160 million Interest Expense (including amortization of financing fees)(1) $185 to $189 million Depreciation & Amortization Expense $170 to $180 million Effective […]

MSCI Expects FY24 Capex of $95M-$105M, Free Cash Flow of $1.225B-$1,285B Read Post »

Truist Financial (NYSE:TFC) Stock Analyst Ratings

Truist Financial (NYSE:TFC) Stock Analyst Ratings Date Upside/Downside Analyst Firm Price Target Change Rating Change Previous / Current Rating 01/30/2024 12.57% Morgan Stanley $38 → $43 Maintains Equal-Weight 01/19/2024 -0.52% Piper Sandler $37 → $38 Maintains Neutral 01/19/2024 9.95% RBC Capital $40 → $42 Maintains Outperform 01/19/2024 15.18% Keefe, Bruyette & Woods $42 → $44 Maintains Outperform 01/05/2024 7.33% Raymond James $34 → $41 Maintains Outperform 01/04/2024 12.57% B of A Securities → $43 Upgrades Neutral → Buy 01/02/2024 9.95% Barclays $40 → $42 Maintains Equal-Weight 12/14/2023 5.89% Odeon Capital → $40.45 Upgrades Hold → Buy 12/08/2023 -10.99% Piper Sandler $31 → $34 Maintains Neutral 12/04/2023 -0.52% Morgan Stanley $40 → $38 Maintains Equal-Weight 11/20/2023 -13.61% Evercore ISI Group $31 → $33 Maintains In-Line 10/20/2023 -18.85% Piper Sandler $32 → $31 Maintains Neutral 10/05/2023 -10.99% Raymond James $36 → $34 Maintains Outperform 10/03/2023 4.71% Morgan Stanley $41 → $40 Maintains

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MSCI’s Q4 Adjusted Earnings, Operating Revenue Increase

MSCI (MSCI) reported Q4 adjusted earnings Tuesday of $3.68 per share, up from $2.84 a year earlier. Analysts polled by Capital IQ expected $3.29. Operating revenue for the quarter ended Dec. 31 was $690.1 million, up from $576.2 million a year earlier. Analysts surveyed by Capital IQ estimated $662.6 million. MSCI said it has raised its quarterly dividend to $1.60 per share, up from $1.38 in the previous quarter. The higher dividend is payable on Feb. 29 to shareholders of record on Feb. 16.

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Citigroup (NYSE:C) Stock Analyst Ratings

Citigroup (NYSE:C) Stock Analyst Ratings Date Upside/Downside Analyst Firm Price Target Change Rating Change Previous / Current Rating 01/30/2024 18.63% Morgan Stanley $46 → $65 Upgrades Underweight → Overweight 01/16/2024 69.74% Oppenheimer $85 → $93 Maintains Outperform 01/16/2024 2.21% Piper Sandler $53 → $56 Maintains Neutral 01/10/2024 — BMO Capital Downgrades Outperform → Market Perform 01/09/2024 11.33% HSBC → $61 Upgrades Hold → Buy 01/03/2024 5.86% Wolfe Research → $58 Upgrades Peer Perform → Outperform 01/02/2024 14.98% Barclays $59 → $63 Maintains Equal-Weight 12/19/2023 -5.09% Goldman Sachs $47 → $52 Maintains Neutral 12/01/2023 -14.22% Goldman Sachs $41 → $47 Maintains Neutral 11/16/2023 55.14% Oppenheimer $82 → $85 Maintains Outperform 10/16/2023 -17.87% Piper Sandler $47 → $45 Maintains Neutral 10/16/2023 20.46% BMO Capital $61 → $66 Maintains Outperform 10/16/2023 49.66% Oppenheimer $81 → $82 Maintains Outperform 10/03/2023 -21.52% Morgan Stanley $45 → $43 Maintains Underweight 10/02/2023 -25.17% Goldman Sachs $47 →

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Goldman Sachs (NYSE:GS) Stock Analyst Ratings

Goldman Sachs (NYSE:GS) Stock Analyst Ratings Date Upside/Downside Analyst Firm Price Target Change Rating Change Previous / Current Rating 01/30/2024 17.39% Morgan Stanley $333 → $449 Upgrades Equal-Weight → Overweight 01/18/2024 -5.88% BMO Capital $357 → $360 Maintains Market Perform 01/17/2024 15.03% JMP Securities → $440 Reiterates Market Outperform → Market Outperform 01/17/2024 28.37% Oppenheimer $481 → $491 Maintains Outperform 01/09/2024 15.03% UBS $382 → $440 Maintains Buy 01/09/2024 10.07% JP Morgan $398 → $421 Maintains Overweight 01/02/2024 28.89% Barclays $437 → $493 Maintains Overweight 12/04/2023 -12.94% Morgan Stanley $329 → $333 Maintains Equal-Weight 11/16/2023 22.35% Oppenheimer $447 → $468 Maintains Outperform 10/19/2023 16.86% Oppenheimer $450 → $447 Maintains Outperform 10/18/2023 15.03% JMP Securities → $440 Reiterates Market Outperform → Market Outperform 10/10/2023 15.03% JMP Securities $450 → $440 Maintains Market Outperform 10/03/2023 -13.99% Morgan Stanley $347 → $329 Maintains Equal-Weight 09/26/2023 17.65% Oppenheimer $461 → $450 Maintains Outperform 09/21/2023

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Morgan Stanley Upgrades Bank of America, Goldman Sachs and Citi on ‘Lightened up’ Basel III Capital Requirements

By Steve Gelsi Analyst Betsy Graseck is ‘back & bullish’ on banks on sunnier prospects for a ‘significant increase in buybacks’ Morgan Stanley analyst Betsy Graseck on Tuesday upgraded Bank of America Corp., Goldman Sachs Group Inc., Citigroup Inc. and Bank of New York Mellon Corp. on optimism around pared-back capital requirements now under study by the the U.S. Federal Reserve. Morgan Stanley also said the entire group of big-bank stocks look attractive, and lifted price targets by a median of 16% across the board on 12 of them. If banks are not required to hold quite as much capital as in the initial Basel III endgame proposal by regulators, Graseck said it’s likely banks may boost moves to return money to shareholders. “Reading the tea leaves, it looks like Basel endgame will be lightened up,” Graseck said in a research note. “This opens the door for a significant increase

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Franklin Resources(BEN.US) Q1 2024 Earnings Conference

The following is a summary of the Franklin Resources, Inc. (BEN) Q1 2024 Earnings Call Transcript: Financial Performance: Franklin Resources reported an effective fee rate of 39.7 basis points, higher than the expected 39 basis points, due to Lexington catch-up fees. Total compensation and benefits, including Putnam, are expected to be around $815 million for the second fiscal quarter. Fiscal year 2024 is forecast to see a 1-2% increase from 2023, excluding Putnam. With Putnam included, but excluding performance fees, the total adjusted operating expenses for FY 2024 are expected to be around $4.55 billion to $4.6 billion. The firm expects to save between $85 million to $100 million on expenses by end of fiscal 2024 and at least $150 million by end of 2025. Q1 2024 saw a 6% increase in Assets Under Management (AUM), reaching $1.46 trillion. Business Progress: Franklin Resources closed on the acquisition of Putnam on

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Blackstone (NYSE:BX) Stock Analyst Ratings

Blackstone (NYSE:BX) Stock Analyst Ratings Date Upside/Downside Analyst Firm Price Target Change Rating Change Previous / Current Rating 01/29/2024 9.7% UBS $134 → $140 Maintains Buy 01/26/2024 -24.77% JP Morgan $91 → $96 Maintains Neutral 01/26/2024 -20.86% BMO Capital $95 → $101 Maintains Market Perform 01/26/2024 5% Wells Fargo $130 → $134 Maintains Overweight 01/26/2024 -0.48% Keefe, Bruyette & Woods $123 → $127 Maintains Market Perform 01/24/2024 12.84% Morgan Stanley $120 → $144 Maintains Overweight 01/22/2024 1.87% Wells Fargo $127 → $130 Maintains Overweight 01/19/2024 -2.83% Citigroup $116 → $124 Downgrades Buy → Neutral 01/11/2024 — Oppenheimer Downgrades Outperform → Perform 01/04/2024 -7.53% TD Cowen → $118 Initiates Coverage On → Market Perform 01/03/2024 0.3% Goldman Sachs → $128 Downgrades Buy → Neutral 12/20/2023 17.54% Piper Sandler → $150 Assumes → Overweight 10/20/2023 -17.72% Oppenheimer $107 → $105 Maintains Outperform 10/20/2023 -11.45% Wells Fargo $118 → $113 Maintains Overweight 10/20/2023

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Stifel Financial Corp. (NYSE:SF) Stock Analyst Ratings

Stifel Financial Corp. (NYSE:SF) Stock Analyst Ratings Date Upside/Downside Analyst Firm Price Target Change Rating Change Previous / Current Rating 01/29/2024 5.63% UBS $74 → $78 Maintains Neutral 01/09/2024 0.22% UBS $62 → $74 Maintains Neutral 01/04/2024 12.41% TD Cowen → $83 Initiates Coverage On → Outperform 10/10/2023 11.05% JMP Securities $86 → $82 Maintains Market Outperform 07/27/2023 16.47% JMP Securities → $86 Reiterates Market Outperform → Market Outperform 07/10/2023 16.47% JMP Securities $91 → $86 Maintains Market Outperform 06/30/2023 23.24% JMP Securities → $91 Reiterates Market Outperform → Market Outperform 05/22/2023 23.24% JMP Securities $91 → $91 Reiterates Market Outperform → Market Outperform 04/27/2023 23.24% JMP Securities → $91 Reiterates → Market Outperform 04/11/2023 -11.97% Citigroup $72 → $65 Maintains Neutral 04/10/2023 23.24% JMP Securities $95 → $91 Maintains Market Outperform 03/13/2023 28.66% JMP Securities → $95 Reiterates → Market Outperform 01/10/2023 28.66% JMP Securities $98 → $95 Maintains

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