Moody’s price target lowered to $411 from $420 at BofA

BofA lowered the firm’s price target on Moody’s to $411 from $420 and keeps a Buy rating on the shares ahead of the company reporting Q3 EPS on October 25. The firm expects positive EPS revisions over the next few quarters on improving debt issuance trends, strong demand for analytic tools and cost initiatives, but is trimming estimates given issuance risk and thinks Moody’s could lower the high-end of its fiscal year guidance, the analyst tells investors.