SPGI S&P Global Inc.
Price Chart
Executive Summary
Six firms acted on S&P Global (SPGI) on September 23, 2024, with Raymond James downgrading from Outperform to Market Perform and five others maintaining ratings. The downgrade is a contrarian move against a heavily bullish consensus — 31 of 35 analysts rate it Buy or Strong Buy, with zero Sells. The mean price target of $535.62 implies 24% upside from the current $431.23. Raymond James has a 54% accuracy rate on 1,636 calls with an average return of 3.4%, slightly below the top-tier firms like Mizuho (100% on 2 calls) and Stifel (83% on 6). Recent analyst momentum is flat — zero upgrades or downgrades in the past 30 days — while EPS estimates have been revised down modestly over the same period. Insider buying (Chairman Joly Hubert purchased $918k) and congressional buys (Reps. McCaul and Khanna) contrast with mixed institutional flows and a high short interest ratio of 65.6%. The next earnings report on July 29, 2026, is not imminent. Overall, the downgrade carries limited weight given the firm's moderate track record and overwhelming buy-side consensus, but the cluster of analyst attention warrants a watchful stance.
Impact Score
Consensus & Targets
Wall Street is overwhelmingly bullish: 11 Strong Buy, 20 Buy, 4 Hold, 0 Sell, 0 Strong Sell across 35 analysts. Consensus is decisively positive, with 88.6% of ratings at Buy or above. The downgrade from Raymond James is a clear outlier.
Current price: $431.23. Mean target: $535.62 (median $546). High: $585, Low: $480. Implied upside to mean: 24.2%. Raymond James did not provide a target, but the mean sits well above the current price. The low end of the range is still above the stock by 11.3%.
Recent Analyst Activity
| Date | Firm | Action | Rating | Price Target |
|---|---|---|---|---|
| 2026-04-29 | JP Morgan | maintain | Overweight | $550.00 |
| 2026-04-13 | Wells Fargo | maintain | Overweight | $525.00 |
| 2026-04-07 | Morgan Stanley | maintain | Overweight | $556.00 |
| 2026-03-17 | BMO Capital | maintain | Outperform | $495.00 |
| 2026-02-17 | UBS | maintain | Buy | $550.00 |
| 2026-02-12 | BMO Capital | maintain | Outperform | $482.00 |
| 2026-02-12 | Mizuho | maintain | Outperform | $551.00 |
| 2026-02-11 | Goldman Sachs | maintain | Buy | $498.00 |
| 2026-02-11 | RBC Capital | maintain | Outperform | $560.00 |
| 2026-02-11 | Stifel | maintain | Buy | $489.00 |
Zero upgrades and zero downgrades in the past 30 days. EPS revisions have been slightly negative: the next-quarter estimate fell from $5.09 to $5.08 over 30 days, and the current-year estimate edged down from $19.65 to $19.64. In the last 30 days, there were 5 upward revisions vs 6 downward for the current quarter, and 4 up vs 8 down for the current year. The trend is modestly negative.
Firm Track Record — Raymond James
Raymond James accuracy: 54% on 1636 calls | avg return: 3.4%
Industry benchmark: mean 51% ± 11%. Top tier: ≥61% (mean + 1σ). Based on 13 firms with ≥5 scored calls.
| Firm | Accuracy | Calls | Avg Return | vs Average |
|---|---|---|---|---|
| Mizuho | 100% | 2/2 | 11% | top tier |
| Baird | 100% | 2/2 | 5.5% | top tier |
| Stifel | 83% | 5/6 | 9.4% | top tier |
| RBC Capital | 67% | 2/3 | 11.1% | top tier |
| JP Morgan | 60% | 3/5 | 3.8% | above average |
| UBS | 60% | 3/5 | 2.5% | above average |
| Evercore ISI Group | 50% | 2/4 | 3.7% | below average |
| Citigroup | 50% | 1/2 | -3.3% | below average |
| Wells Fargo | 44% | 4/9 | -0.7% | below average |
| Oppenheimer | 43% | 3/7 | 3.5% | below average |
Raymond James has a 54% accuracy rate (885 of 1,636 rated stocks) with an average return of 3.4%, placing them near the lower end of firms covering SPGI. Top performers include Mizuho (100% on 2 calls, +11% avg return) and Stifel (83% on 6, +9.4%). Bottom performers include Morgan Stanley (25% on 8, -1.1%) and Barclays (25% on 4, -2.2%). Raymond James’ downgrade is not backed by a standout track record.
Earnings Estimates
Next earnings: Jul 29, 2026
| Period | EPS Est. | EPS Range | Revenue | Revisions (7d) |
|---|---|---|---|---|
| +1q | $5.08 | $4.95 — $5.20 | $4.1B | ↑3 ↓0 |
| 0q | $4.94 | $4.82 — $5.07 | $4.1B | ↑2 ↓0 |
| 0y | $19.64 | $19.52 — $19.88 | $16.5B | ↑2 ↓0 |
| +1y | $22.17 | $21.79 — $22.68 | $17.7B | ↑3 ↓0 |
Cross-Platform Signals
Insider activity is bullish: Chairman Joly Hubert bought $918k on Feb 11, 2026. Congressional trades show three buys (Reps. McCaul and Khanna) and one sell (Rep. Kean) in March 2026. Institutional flows are mixed: Wells Fargo added 57.4% ($2.28B), Norges Bank opened a new $2.40B position, but Renaissance Technologies exited fully, Two Sigma cut 88.7%, and FMR trimmed 28.6%. Short interest is elevated at 65.6% of float, a contrarian bullish signal if shorts are squeezed. The analyst downgrade diverges from insider buying and congressional activity, which are more positive.
Actionable Insight
The Raymond James downgrade is a low-conviction contrarian call from a moderate-accuracy firm, but the cluster of analyst actions warrants monitoring. With a consensus target 24% above current levels and strong insider buying, traders should view this as a potential entry point on pullbacks rather than a reason to sell.
Documents Analyzed
Report based on filing metadata.
Track record builds as more directional reports settle.
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
|
May 31, 2026
9d ago
|
ANALYST-DOWNGRADE
| $520.79 $516.36 | ▼ −0.85% | ▼ −1.62% | $417.09 (−19.91%) |
|
May 26, 2026
14d ago
|
8-K
| $412.15 $417.30 | ▲ +1.25% | ▲ +0.04% | $417.09 (+1.20%) |
|
May 21, 2026
19d ago
|
8-K
| $415.57 $423.81 | ▲ +1.98% | ▲ +0.13% | $417.09 (+0.36%) |
|
May 18, 2026
22d ago
|
8-K
| $417.29 $412.15 | ▼ −1.23% | ▼ −2.85% | $417.09 (−0.05%) |
|
May 7, 2026
4w ago
|
8-K
| $419.80 $403.92 | ▼ −3.78% | ▼ −5.25% | $417.09 (−0.65%) |
|
May 1, 2026
5w ago
|
ANALYST-DOWNGRADE
| $520.79 $516.36 | ▼ −0.85% | ▼ −1.62% | $417.09 (−19.91%) |
|
Apr 29, 2026
6w ago
|
Insider Cluster
| $423.67 $423.74 | ▲ +0.02% | ▼ −1.97% | $417.09 (−1.55%) |
US Market Status
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