On-Track Second-Quarter Earnings Leaves Our Outlook Intact for IHS Markit
We do not plan a large change for our $46.50 per share valuation for wide-moat IHS Markit after it posted second-quarter earnings consistent with our forecasts. First-half revenue rose 11% against a 39% adjusted EBITDA margin. Management revised its fiscal 2018 revenue guidance to $3.85 billion to $3.90 billion from $3.825 billion to $3.875 billion, reiterated its $2.23 to $2.27 adjusted EPS outlook, and stated it expects adjusted EBITDA at the upper end of its prior $1.50 billion to $1.525 bill...
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