Piper Jaffray Raises Price Target On IHS Inc. (IHS)

Piper Jaffray raised its price target on IHS Inc. IHS to $71 from $68, after the company reported strong quarterly earnings. It still rates shares at Overweight. In the research note, Piper Jaffray writes, "As in prior quarters, IHS delivered impressive results across the board, with revenues, EBITDA and adjusted EPS all nicely ahead of our estimates and Street consensus (see summary table on page 2). Cash EPS (our preferred metric) advanced 13% y/y to $0.85 (vs. our $0.82E) from $0.75 a year earlier. Adjusted EPS (excludes stock-based comp) advanced 15% to $0.76 (vs. our $0.73E) from $0.66 a year earlier. The sources of upside in EPS versus our estimate were roughly 25% revenue out-performance, 75% margin upside." Shares of IHS lost 48 cents yesterday to close at $65.85, a loss of 0.7%.