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.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
See today’s best-performing stocks on TipRanks >>
Read More on MCO:
- Moody’s price target raised to $430 from $366 at BMO Capital
- Moody’s just upgraded at Wells Fargo, here’s why
- Moody’s upgraded to Overweight from Equal Weight at Wells Fargo
- Moody’s price target raised by $31 at Deutsche Bank, here’s why
- These are the Stocks Most Negatively Correlated to Treasury Yields