UPDATE: JP Morgan Raises PT to $43 on Moody's

A report from J.P. Morgan reiterates its Overweight rating and raises its price target from $42 to $43 on Moody's (NYSE: MCO).

The report states, “We're reiterating our Overweight rating on MCO shares. In Q3,11, revs. (+4%) were below estimates while profits (+4%) were above. EPS of $0.57 (+12%) compared with JPM's $0.46 and included a ~$0.06 boost from a low tax rate. Expenses rose 3% while operating margin was flat at 36.9%... We think CRA regulatory rumblings (esp. in Europe) could lift in coming weeks. Valuation is attractive at 13.6 times 2013E EPS."

MCO closed yesterday at $36.75.