RBC Capital analyst Ashish Sabadra raised the firm’s price target on Moody’s to $350 from $329 and keeps an Outperform rating on the shares after its Q4 earnings beat. The company’s FY23 guidance will likely prove "overly conservative" given the expectations for a robust recovery in issuance, the analyst tells investors in a research note. The firm also believes that Moody’s 2023 buyback guidance appears low, resulting in only roughly half of free cash flows returned to shareholders.
Published first on TheFly
See the top stocks recommended by analysts >>
Read More on MCO: