Moody’s price target lowered to $414 from $430 at BMO Capital

BMO Capital lowered the firm’s price target on Moody’s to $414 from $430 and keeps an Outperform rating on the shares. The company reported a Q4 earnings miss due to heavier operating expenses and an “air pocket” in December issuance, the analyst tells investors in a research note. 2024 guidance was also bit lighter than consensus largely due to heavier operating growth investments. the firm added, though it remains positive long-term given Moody’s “best in class” margins in ratings services.