Moody’s price target raised to $475 from $450 at RBC Capital

RBC Capital raised the firm’s price target on Moody’s to $475 from $450 and keeps an Outperform rating on the shares. The company’s revenue beat elevated expectations and the management raised guidance by the magnitude of the Q2 beat, the analyst tells investors in a research note. Moody’s Analytics, or MA, segments’s annual recurring revenue delivered a solid 10% growth, and while the management reduced its guidance due to potential headwinds in the second half, the firm expects robust MA margin expansion over the mid-term, RBC added.