Piper Jaffray Reiterates Overweight on IHS

Piper Jaffray is out with its report today on IHS IHS, reiterating Overweight. In a note to clients, Piper Jaffray writes, "We like IHS' planned acquisition of Seismic Micro-Technology, a leading provider of geoscience software. The transaction will broaden and strengthen IHS' offerings in the energy market and is expected to be margin, earnings and organic growth accretive. While the scale of this transaction ($500M purchase price) is larger than anything IHS has done to-date, the company's impressive track record in integrating acquisitions gives us high confidence in its ability to leverage this purchase. We reiterate our Overweight rating and $95 price target." Shares of IHS closed Tuesday at $78.66, down 1.74% from Monday's close.