Analyst Note| Rajiv Bhatia |
Wide-moat MSCI continues to fare well in a volatile economic environment. For the second quarter, MSCI reported revenue of $410 million, up 6% and in line with the CapIQ consensus estimate. Adjusted EPS of $1.77 beat consensus of $1.68, driven by strong expense control and a lower tax rate. As we lower our expense estimates, we are increasing our fair value estimate to $255 from $245.