Stifel raised the firm’s price target on Moody’s (MCO) to $362 from $333 and keeps a Hold rating on the shares. Based on S&P’s (SPGI) billed issuance data for October and November and the firm’s aggregate debt issuance tracker for Q4, Stifel believes debt issuance was higher than expected in Q4 and that Moody’s MIS revenue should be “somewhat higher” than what consensus estimates are modeling. The firm’s Q4 adjusted EPS estimate is now $10.15, in the higher part of the $9.75-$10.25 guidance range and above the $10.06 consensus estimate, the analyst noted.
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