S&P Global stock rallied 3.62% in midday trading to $417.74 after the company announced Mobility Global Inc. launched a $2 billion senior note offering and a $500 million credit facility.
This is a key step toward the planned spinoff of its Mobility division, targeted for mid-2026.
JPMorgan raised its price target to $550, Clear Street to $507, both with Buy ratings. Four insider purchases were recorded in the past three months.
S&P Global's Q1 results beat estimates, with revenue up 10% and EPS up 14%. Analysts rate SPGI a 'Strong Buy' with targets 25-37% above current levels.
The broader market was weak: S&P 500 -0.29%, Dow flat, NASDAQ -0.66%. The Fed's next meeting is June 16-17.
The debt offering and credit facility provide concrete evidence that the spinoff is on track, unlocking value for shareholders.
