Moody’s price target raised to $492 from $450 at Oppenheimer

Oppenheimer raised the firm’s price target on Moody’s to $492 from $450 and keeps an Outperform rating on the shares. The firm notes Moody’s reported robust Q2 results, with adjusted EPS of $3.28 vs. its $3.06 estimate and $3.04 consensus. The exceptional Q2 issuance following the strong Q1 forces many investors to rethink the meaning of “pull-forward,” Oppenheimer argues.