Moody’s price target lowered to $507 from $534 at BMO Capital

BMO Capital lowered the firm’s price target on Moody’s (MCO) to $507 from $534 and keeps a Market Perform rating on the shares. The company reported a beat and raise as issuance was better than expected via leveraged loan, high-yield, and private credit, while margin strength was on display in both segments, though the firm is reducing its price target using revised estimates and current multiples, the analyst tells investors in a research note.