Moody’s price target raised to $540 from $530 at BofA

BofA raised the firm’s price target on Moody’s (MCO) to $540 from $530 and keeps a Buy rating on the shares. Moody’s and S&P Global (SPGI) revised their ratings revenue guidance outlooks with Q1 results, but the guidance revisions “now look conservative to us” given the timing of Q1 earnings and the fact that macro uncertainty, trade tensions and capital market volatility have improved since then, the analyst tells investors. The firm is raising estimates to reflect the improving outlook and now assumes both companies end up closer to the high end of their guidance ranges for their rating segment revenue, the analyst noted.