10 Best Breakout Stocks To Invest In Right Now

2. S&P Global Inc. (NYSE:SPGI)

Number of Hedge Fund Holders: 90

S&P Global Inc. (NYSE:SPGI) is a capital markets firm specializing in financial information and analytics. It offers independent credit ratings, market intelligence, and risk analytics services, providing a range of products that assist investors, businesses, and governments in making informed decisions.

Morgan Stanley recently revised its outlook on S&P Global Inc. (NYSE:SPGI), raising the price target from $530 to $564 while maintaining an Overweight rating on the stock. The firm cited the company’s strong competitive position, significant market share, and high profit margins as key factors supporting its positive assessment. Morgan Stanley commended S&P Global for its financial strength and growth potential, highlighting the company’s ability to leverage pricing power, innovate with new products, expand globally, and capitalize on cross-enterprise opportunities.

S&P Global Inc. (NYSE:SPGI) has shown robust financial performance, reporting a notable 16% increase in total revenue, driven by a 60% surge in transaction revenue from its ratings division. Additionally, subscription products experienced an 8% year-over-year growth. Additionally, the company’s management has significantly upgraded its full-year 2024 outlook for rated debt issuance, increasing the forecast from a 6-10% rise to approximately 25%, which is expected to lead to mid-teens growth in Ratings revenue.

By the end of Q2 2024, 90 hedge funds tracked by Insider Monkey held stakes in S&P Global Inc. (NYSE:SPGI), down from 97 in the previous quarter. These investments collectively exceed $10 billion. Among these hedge funds, TCI Fund Management emerged as the leading stakeholder in Q2.