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UPDATE: Benchmark Raises PT on Moody's Corporation on Strong Bond Issuance

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In a report published Friday, Benchmark Company analyst Edward J. Atorino reiterated his Buy rating on Moody's Corporation (NYSE: MCO), and raised the price target from $52.00 to $60.00.

In the report, Atorino noted, “Moody's (MCO-Buy) share price has rebounded 15% since mid-February following a 21% price decline in early February following the recent Justice Department's suit against S&P – a division of McGraw-Hill (MHP-Buy) – and the subsequent disclosure that the NY Attorney General is looking into the ratings agencies compliance with agreements reached in 2008. While legal issues remain important, bond issuance in 1Q13 has been strong, supporting Moody's favorable fundamentals, and ought to support a higher share price as legal issues are put into proper perspective or are resolved.”

Moody's Corporation closed on Thursday at $51.50.

Latest Ratings for MCO

DateFirmActionFromTo
Jul 2014BarclaysMaintainsOverweight
Jul 2014FBR CapitalMaintainsOutperform
Jul 2014UBSMaintainsNeutral

View More Analyst Ratings for MCO
View the Latest Analyst Ratings

Posted-In: Benchmark CompanyAnalyst Color Price Target Analyst Ratings

 

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