UPDATE: Benchmark Company Reiterates Buy Rating, Raises PT on Moody's Corporation
In a report published Monday, Benchmark Company reiterated its Buy rating on Moody's Corporation (NYSE: MCO), and slightly raised its price target from $51.00 to $52.00.
Benchmark Company noted, “Moody's is one of the largest providers of credit ratings and risk analysis. Moody's also provides research data and analytics tools for assessing credit risk, and publishes credit opinions, deal research and commentary. Moody's is the second largest of three major rating agencies. It represents the best pure-play in the bond issuance and credit rating industry. Moody's reported solid 3Q12 results but remained hesitant to indicate strength could flow through for 2013. Macro sentiment continues to impact bond issuance. Stabilization in Europe could lead to growth in ratings revenues this year, and with an expected ramp up in refinancing over the next 2-3 years Moody's seems positioned for growth in 2012 and over the longer-term.”
Moody's Corporation closed on Friday at $45.00.
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