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William Blair upgrades IHS Markit on positive revenue outlook

William Blair analysts Timothy McHugh and Trevor Romeo assumed coverage of IHS Markit Ltd. from Brandon Dobell and upgraded the company to "outperform" from "market perform," saying the company should continue to exceed revenue projections.

William Blair expects to see growth in IHS Markit's upstream energy business and in constant-currency revenue, a decline in the processing business and a "modest slowdown" in the growth rate of the used car portion of the automotive business.

The analysts expect to see a "steady" improvement in margins in the next two years due to "improving trends in the resources segment." The company will benefit from merger-related cost synergies, and selling, general and administrative expenses efficiency may improve, they wrote.

The company's "shares should appreciate at least in line with the pace of earnings growth," the analysts said.

They raised the company's adjusted 2018 EPS estimate to $2.27 from $2.22 and set the 2019 estimate at $2.57.