  Based on 280 reference vertical transition energies of various natures
(singlet, triplet, valence, Rydberg, $n\to\pi^*$, $\pi\to\pi^*$, and double
excitations) extracted from the QUEST database, we assess the accuracy of
third-order multireference perturbation theory, CASPT3, in the context of
molecular excited states. When one applies the disputable
ionization-potential-electron-affinity (IPEA) shift, we show that CASPT3
provides a similar accuracy as its second-order counterpart, CASPT2, with the
same mean absolute error of $0.11$ eV. However, as already reported, we also
observe that the accuracy of CASPT3 is almost insensitive to the IPEA shift,
irrespective of the transition type and system size, with a small reduction of
the mean absolute error to $0.09$ eV when the IPEA shift is switched off.
