UPDATE: Benchmark Company Reiterates on Moody's Corporation on Bottom Line Strength, but Tough Comps Continue - Moody's (NYSE:MCO)

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In a report published Monday, Benchmark Company analyst Edward J. Atorino reiterated a Hold rating on

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Moody's Corporation

(NYSE: MCO), and raised the price target from $71.00 to $78.00.In the report, Benchmark Company noted, “On Friday, Moody's (MCO-Hold, PT from $71 to $78) reported revenues for 3Q13 rose 2.5% to $705 million, below Street expectations at $717 million, as bond issuance slowed vs strong issuance in 3Q12. Operating Income was up 8% y/y to $291.5 million, with EPS of $0.83, up 2% y/y, and in line with Street estimates. Management revised its 2013 EPS forecast to $3.51-$3.57 from $3.49-$3.59 and reiterated its forecast of high -single digit growth in revenues.”Moody's Corporation closed on Friday at $71.56.