The Fly

Moody’s price target raised to $350 from $329 at RBC Capital

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.

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