Moody’s price target raised to $296 from $293 at Morgan StanleyS&P Global

Morgan Stanley analyst Toni Kaplan raised the firm’s price target on Moody’s (MCO) to $296 from $293 and keeps an Equal Weight rating on the shares. While raising the firm’s Q1 Ratings revenue growth estimates at Moody’s and S&P Global (SPGI) by 3.6% and 3.7%, respectively, on the back of solid Q1 issuance, the firm is lowering its 2023 Ratings revenue growth estimates at each company by close to 2% on the back of tighter market conditions and decelerating issuance in March. After its model updates Morgan Stanley maintains an Overweight rating and $398 price target on S&P Global.