Moody’s price target raised to $535 from $525 at Wolfe Research

Wolfe Research analyst Scott Wurtzel raised the firm’s price target on Moody’s (MCO) to $535 from $525 and keeps an Outperform rating on the shares. Trends during Q1 were better-than-expected and issuance trajectory remains on track, the analyst tells investors. While the end of the quarter was “choppy,” the firm believes solid Moody’s Analytics annual recurring revenue trends have helped alleviate AI related concerns.