Moody’s price target raised to $620 from $597 at Wells Fargo

Wells Fargo analyst Jason Haas raised the firm’s price target on Moody’s (MCO) to $620 from $597 and keeps an Overweight rating on the shares. The firm notes the company delivered strong Q3 results above Street expectations driven by better-than-expected issuance. Tight spreads, an increase in M&A activity, and growing refinance walls should support issuance momentum ahead, Wells adds.