Moody’s price target raised to $481 from $468 at BMO Capital

BMO Capital raised the firm’s price target on Moody’s (MCO) to $481 from $468 and keeps a Market Perform rating on the shares. The company’s guidance provided for high-20% MIS – Moody’s Investors Services – segment growth in 2024 based upon a mid-single-digit decline in Q4 issuance, and the firm believes that these results were better than expected based on public data and based on the billed issuance results from S&P (SPGI). BMO is also raising its Q4 EPS view by 19c to $2.50 and its FY25 EPS view by 40c to $13.40.