Morgan Stanley raised the firm’s price target on Moody’s to $462 from $451 and keeps an Equal Weight rating on the shares. Aggregate Q3 issuance increased 38% year-over-year, says the analyst, who is raising Q3 ratings revenue growth estimates to 25% and raising 2024 revenue and adjusted EPS estimates. The firm expects both Moody’s (MCO) and S&P Global (SPGI) to beat street estimates given the strong issuance in the quarter and Index upside at S&P, the analyst tells investors.
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