FMP
Moody's Price Target Raised Ahead of Q2 Earnings
Jun 29, 2023 8:40 PM - Davit Kirakosyan(Last modified: Dec 19, 2023 6:49 PM)
Image credit: FMP
Oppenheimer raised the price target on Moody's Corp (NYSE:MCO) to $362.00 from $349.00 while maintaining an Outperform rating. The analysts expect strong issuance to provide upside to Q2 estimates, raising the EPS estimate by around 7% to $2.39.
The revised estimates and increased price target reflect positive revenue growth in the Ratings segment. According to the analysts, key points of investor focus include guidance updates, issuance trends, demand for compliance products, and long-term revenue guidance.
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