Moody’s price target lowered to $493 from $508 at Morgan Stanley

Morgan Stanley lowered the firm’s price target on Moody’s (MCO) to $493 from $508 and keeps an Equal Weight rating on the shares. The firm expects a “light” Q1 print following soft credit issuance in the quarter and is lowering its Q1 EPS forecast by 2% while lowering its Q1 Ratings revenue growth estimate to 1%. The firm expects both S&P Global (SPGI) and Moody’s to lower Ratings revenue guidance, the analyst added.