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UPDATE: Piper Jaffray Reiterates Overweight Rating, Raises PT on Moody's Corporation

Related MCO
UPDATE: Moody's Posts Upbeat Q3 Earnings
Earnings Scheduled For October 24, 2014

In a report published Monday, Piper Jaffray & Co. reiterated its Overweight rating on Moody's Corporation (NYSE: MCO), and slightly raised its price target from $58.00 to $59.00.

Piper Jaffray noted, “Very robust 4Q debt issuance trends should drive EPS upside relative to our prior expectations. We boost our estimates to reflect this recent strength, partially mitigated by higher near-term operating costs. No change to our long-standing bullish view of MCO. Robust near-term EPS growth, attractive secular revenue growth prospects, potential for margin upside, and fading regulatory and legal risk make MCO one of our favorite investment ideas. Based on our higher estimates our price target moves fractionally higher to $59 from $58.”

Moody's Corporation closed on Friday at $53.28.

Latest Ratings for MCO

DateFirmActionFromTo
Oct 2014BarclaysMaintainsOverweight
Oct 2014FBR CapitalMaintainsOutperform
Jul 2014BarclaysMaintainsOverweight

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Posted-In: Piper Jaffray & Co.Analyst Color Price Target Analyst Ratings

 

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