BMO Capital Raises Price Target on Moody’s Corp. (MCO) Following Investor Day

September 29, 2016 9:50 AM EDT
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Price: $96.96 +0.48%

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    4 Buy, 16 Hold, 1 Sell

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BMO Capital reiterated a Market Perform rating on Moody's Corp (NYSE: MCO), and raised the price target to $112.00 (from $104.00), following investor day. Management raised its 2016 GAAP EPS guidance by $0.15 owing to an FX gain related to a subsidiary reorganization, offset by restructuring costs. 2016 nonGAAP EPS guidance was maintained .

Analyst Jeffrey Silber commented, "Margin expansion may be deferred a bit as much of its expected costcutting savings is reinvested in its business. However, near-term expectations may be a bit conservative, as 2016 non-GAAP EPS guidance was maintained, despite improving debt issuance trends and greater-than-expected cost cutting. We are raising our estimates as we believe we had previously been overly conservative."

For an analyst ratings summary and ratings history on Moody's Corp click here. For more ratings news on Moody's Corp click here.

Shares of Moody's Corp closed at $109.57 yesterday.

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