Moody’s price target lowered to $543 from $584 at Clear Street

Clear Street analyst Owen Lau lowered the firm’s price target on Moody’s (MCO) to $543 from $584 and keeps a Buy rating on the shares. The firm says the company reported a “robust quarter” with strong revenue growth and lower tax rate than expected. While the “AI disruption narrative” has hurt the stock, Moody’s ratings and data franchise “have a strong moat,” the analyst tells investors in a research note. Clear Street believes the company is unlikely to be disrupted by third party AI companies. As such, the recent selloff related to AI creates an attractive entry point, contends the firm.