Piper Jaffray Ups Factset to Outperform

Analyst Brett Manderfeld notes a pullback in the stock price

Standard & Poor's Equity Research

Piper Jaffray upgraded Factset Research Systems (FDS) to outperform from market perform, noting last week's pull back in the stock's price.

Analyst Brett Manderfeld believes an already solid demand environment, particularly in the investment banking area, has strengthened modestly. More importantly, he has the increased conviction that the company can maintain double-digit internal growth for the next two years, at least following last month's sell-side only analyst day at the company headquarters. He raises his $44 stock price target to $50.

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