Mizuho lowered the firm’s price target on Moody’s (MCO) to $491 from $504 and keeps a Neutral rating on the shares post the Q1 report. Following a “turbulent” issuance market in recent months, Moody’s reported stronger than expected revenue growth, the analyst tells investors in a research note. The firm believes the company is executing well in the current environment, but finds this currently fairly reflected in the stock, “especially amid a still-volatile macro backdrop.”
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