UPDATE: Piper Jaffray Lowering Price Target On IHS Inc.

Piper Jaffray is lowering its price target on shares of IHS Inc. IHS to $95 from $97, but it has an Overweight rating on shares. In a note to clients, Piper Jaffray writes, "In a replay of 1Q results, IHS reported 2Q revenues slightly above our forecast, but earnings slightly below. While we believe the stock is likely to be a "show-me" story near-term, with higher EBITDA margins (not anticipated until 4Q) required to break the shares out of their recent trading range, we remain optimistic on the secular growth prospects at IHS. We retain our Overweight rating but would look for opportunities to get more aggressive on weakness." Shares of IHS closed at $87.99 yesterday.