Bank of America has identified five names in the Information & Business Services sector as its preferred holdings, citing recurring revenue streams, elevated switching costs and business models that should be relatively resistant to AI-driven disruption. The list comprises S&P Global (SPGI), MSCI (MSCI), Fair Isaac Corporation (FICO), Aramark (ARMK) and NIQ Global (NIQ). Each company was assigned a Buy rating along with a price objective.
S&P Global (SPGI) - Buy, $575 price objective
Bank of America positions S&P Global at the top of its list, pointing to the company’s strategic priorities and a targeted 7-9% organic growth range as drivers of future expansion. The firm also highlights S&P Global’s plan to spin off its Mobility business in Q2 2026, which is expected to concentrate management focus and capital on synergistic growth opportunities across the remaining businesses.
Macro and market dynamics are cited as constructive heading into 2026 - specifically a multi-year refinancing wall that peaks in 2028, a lower-rate environment, tighter credit spreads and a rebound in M&A activity. Those conditions, Bank of America argues, should support stronger issuance volumes, higher ratings demand and improved earnings trajectories for firms in S&P Global’s markets.
On the company’s protective characteristics, analysts referenced S&P Global’s proprietary datasets, the high cost for customers to switch providers and regulatory compliance frictions as buffers against competitive pressure and AI disruption. In its latest reported quarter, S&P Global posted fourth-quarter 2025 revenue of $3.92 billion, a result that beat expectations, while adjusted earnings per share of $4.30 came in slightly below forecasts. After the release of those results, several firms including UBS, Stifel and BMO Capital cut their price targets, citing a softer outlook.
MSCI (MSCI) - Buy, $700 price objective
Bank of America ranks MSCI second on its list, underscoring the firm’s entrenched indices, analytics and data offerings. MSCI’s revenue model is highly recurring - roughly 97% of revenue is recurring - and its benchmarks are widely embedded, creating material switching costs for clients.
Bank of America notes a favorable positioning for 2026 if equity market leadership broadens beyond U.S. mega-cap names and global flows rotate outside the U.S. The bank further emphasizes that 76% of assets under management (AUM) tied to MSCI-linked ETFs are non-U.S., which should increase demand for MSCI’s indices across benchmarking, portfolio construction and risk-assessment use cases. The Index segment accounts for about 57% of revenue and approximately 71% of earnings for MSCI.
MSCI reported fourth-quarter 2025 results that exceeded analyst expectations, delivering adjusted EPS of $4.66 and revenue of $822.5 million.
Fair Isaac Corporation (FICO) - Buy, $1,900 price objective
Bank of America places Fair Isaac in the third spot, highlighting a strategic program aimed at expanding FICO’s capture of mortgage scoring economics. The new Mortgage Direct Licensing Program allows mortgage credit report providers to license FICO scores directly, which expands the company’s ability to appropriate value that had been retained by credit bureaus. According to the bank, four of the top five mortgage report providers have already joined the program.
FICO’s Scores segment makes up roughly 60% of revenue and about 80% of operating income. Bank of America quantifies the leverage from pricing, estimating that every $1 increase in Score pricing translates into an 8% increase in adjusted EPS. The bank also notes that FICO’s software business has shown meaningful expansion, with annual recurring revenue up about 50% since 2020.
In its most recent reported period, Fair Isaac disclosed first-quarter 2026 non-GAAP earnings per share of $7.33 and revenue of $512 million, each above analyst estimates.
Aramark (ARMK) - Buy, $50 price objective
Aramark is fourth on Bank of America’s list. The bank points to accelerating new-business activity, record client retention and management’s heightened emphasis on net new revenue as evidence that the company is positioned for growth in 2026. Management has tied 40% of incentive compensation to net new wins, illustrating a clear internal focus on expanding contracted sales.
Analysts’ projections cited by Bank of America include FY26 revenue of $14 billion and free cash flow (FCF) of $422 million. The bank expects those outcomes to be supported by robust net new business, high retention rates and margin improvement from supply-chain rebate capture, incremental SG&A leverage and efficiencies enabled by AI. As leverage improves, capital deployment is expected to remain shareholder-friendly in the bank’s view.
Aramark’s fiscal first-quarter 2026 results beat estimates, with reported organic revenue growth of 5.0%. Following the quarterly release, UBS, Stifel and Morgan Stanley raised their price targets on the stock.
NIQ Global (NIQ) - Buy, $20 price objective
Rounding out the top five, NIQ Global receives a Buy rating and a $20 target. Bank of America acknowledges a sharp share-price pullback - a 37% decline since early February - driven by market concerns over AI disruption and the announced departure of NIQ’s chief operating officer. Analysts covering the name view the move as an overreaction to the headlines.
Bank of America highlights NIQ’s valuation as compelling on a forward basis: the stock is trading at roughly 6x 2027E EV/EBITDA, about a 50% discount to the Information Services peer-group average, despite the business being a steady mid-single-digit grower. The bank indicates the COO exit appears tied to a contractual clause in the employment agreement rather than to fundamental operating issues. NIQ was scheduled to report earnings on February 27, and Bank of America notes that positive guidance for 2026 could prompt a significant recovery in the share price.
NIQ has rolled out a "Say-Do Gap Measurement Framework" to help brands track consumer purchasing behavior and has also received a partner badge in TikTok’s Media Mix Modeling program, developments cited by the bank as evidence of continued product innovation and platform relevance.
Bank of America’s selections emphasize businesses with recurring revenue profiles, entrenched client relationships and pricing power - traits that the bank views as useful defenses in an environment of technological change. Each company on the list has recent operating results or strategic initiatives that Bank of America believes support a Buy stance and the specified price objectives.