Moody’s price target raised to $470 from $455 at UBS

UBS analyst Alex Kramm raised the firm’s price target on Moody’s to $470 from $455 and keeps a Neutral rating on the shares. Shares were up 7% quarter-to-date on the expectation of a ratings beat and guidance raise, though shares were muted following the Q2 results, the analyst tells investors in a research note. UBS continues to like the fundamental setup in ratings, as the business could continue to beat, but continues to think that the recovery is already priced in and remains on the sidelines.