Moody’s price target raised to $490 from $414 at Baird

Baird analyst Jeffrey Meuler raised the firm’s price target on Moody’s to $490 from $414 and keeps an Outperform rating on the shares. The firm said their investment view is little changed; but they think risk/reward skews positively with issuance conditions remaining favorable, and are very positive on the business structurally, but view current valuation as elevated.