Why Has Cantor Fitzgerald Given Markit (NASDAQ:MRKT) a $29 Price Target
The broker Cantor Fitzgerald has today have initiated coverage on Markit (NASDAQ:MRKT) shares, with a Hold rating, while stating the target price at $29.
From a total of 11 analysts covering Markit Ltd (NASDAQ:MRKT) stock, 3 rate it a ”Buy”, 0 a “Sell”, and 8 a ”Hold”. This means that 27% of the ratings are positive. The highest target price is $34 while the lowest target price is $27. The mean of all analyst targets is $30.61 with a 6.82% above today’s ($29.05) stock price. Markit Ltd was the topic of 7 analyst reports since August 13, 2015 according to the firm StockzIntelligence Inc. Morgan Stanley downgraded shares on November 6 to “Equal-Weight” rating. RBC Capital Markets maintained MRKT stock in a recent report from August 14 with “Sector Perform” rating. Finally, Deutsche Bank maintained the stock with “Buy” rating in a report issued on an August 13.
Approximately 140,410 shares of stock traded hands. Markit Ltd (NASDAQ:MRKT) has risen 9.83% since May 1, 2015 and is uptrending. It has outperformed by 12.61% the S&P500.
Markit Ltd. is a global diversified well-known provider of financial information services. The company has a market cap of $5.22 billion. The Firm provides pricing and reference data, indices, valuation and trading services, trade processing, enterprise software and managed services. It has 45.17 P/E ratio. The Company’s business is organized in three divisions.
According to Zacks Investment Research, “Markit Ltd. focuses on providing financial information services. It provides pricing and reference data, indices, valuation and trading services, trade processing, enterprise software and managed services. Markit operates in three segments: Information, Processing and Solutions. The Company’s customers include banks, hedge funds, asset managers, central banks, regulators, auditors, fund administrators and insurance companies. Markit Ltd. is headquartered in London, the United Kingdom.” Get a free copy of the Zacks research report on Markit Ltd (MRKT).