UPDATE: Deutsche Bank Initiates Coverage On Markit

In a report released Monday, Deutsche Bank analyst Paul Ginocchio initiated coverage on Markit (NASDAQ: MRKT) with a Buy rating and a $29.00 price target.

Ginocchio believe growth opportunity is presented for Markit's solution division with regulatory issues faced by investment banks. Fragmented markets create uncertainty for Markit's subscription business. Due to shifts in electronic trading, Deutsche Bank analysts believe the company has decreased headwinds and uncertainty making it easier to accurately estimate its operations and FCF.