Raymond James upgrades FactSet to 'market perform' on valuation

FactSet Research Systems

26/06/2025 11:59

** Raymond James upgrades financial data provider FactSet FDS.N to "market perform" from "underperform"

** Brokerage sees limited further downside risk to FDS' valuation multiple, which currently sits near the stock's five-year low

** Says FDS' annual subscription value (ASV) positively inflected in Q3 2025 after  trending lower for eight consecutive quarters

** FDS, which competes against Bloomberg, LSEG and S&P Global, earlier this week reaffirmed its annual outlook and indicated the sales pipeline was improving

** Still, Raymond James sees budget pressures facing much of FactSet’s clients and improved competition from LSEG as likely limiting revenue and ASV growth upside

** 3 of 21 brokerages rate the stock "buy", 11 "hold", and 7 "sell" or lower; median PT $439 - data compiled by LSEG

** As of last close, FDS down 8.4% YTD

 (Reporting by Arasu Kannagi Basil in Bengaluru)

 ((ArasuKannagi.Basil@thomsonreuters.com))