Moody’s price target raised to $392 from $374 at Morgan Stanley

Morgan Stanley raised the firm’s price target on Moody’s (MCO) to $392 from $374 and keeps an Equal Weight rating on the shares. The firm expects both Moody’s and S&P Global (SPGI) to beat Street estimates given the strong issuance in the quarter, as well as Index upside at S&P. The firm is raising its 2024 revenue and adjusted EPS estimates for S&P by 1% and 2%, respectively, and for Moody’s by 2% each, the analyst noted.