Soft Near-Term Energy Outlook Does Not Alter IHS Markit’s Long-Term Prospects; Stock Fairly Valued
After it announced third-quarter earnings, we do not plan to make a large change to our $38 per share valuation for wide-moat IHS Markit. We expect the time value of money and financial services strength to mostly offset the impact of energy sector-related weakness. The firm posted a 1% adjusted organic revenue decline fiscal year to date, with a 10% uptick in its transportation segment offset by a 9% downturn in resources (CMS was about flat). IHS Markit’s updated fiscal 2016 guidance, calling ...
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