Moody's (MCO) to Benefit as Bond Issuance Strong
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Price: $375.41 +1.26%
Rating Summary:
13 Buy, 14 Hold, 1 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 11 | Down: 13 | New: 18
Rating Summary:
13 Buy, 14 Hold, 1 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 11 | Down: 13 | New: 18
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Benchmark today reiterated a Buy rating on Moody's Corp (NYSE: MCO) and raised its price target to $58.00 (from $52.00). Benchmark also raised Q4 revenue estimates to $696 million from $683 previously.
Analyst said they believe bond issuance were strong through Q412 and were off to a "very good start" so far this year as corporation take advantage of low interest rates.
"We believe US issuance has remained strong in January and expect US issuance to remain strong during 1Q13 and well into 2013. Issuance is helped by a prolonged favorable interest rate environment and the substantial amount of debt coming due for refinancing, as well as a continued 'pull forward' refinancing of debt maturing later in the year and over the next few years," said analyst Edward J. Atorino.
Atorino thinks issuance from Europe, Asia and emerging markets may rise on stabilization in international financial markets.
For an analyst ratings summary and ratings history on Moody's Corp (NYSE: MCO) click here. For more ratings news on Moody's Corp click here.
Shares of Moody's Corp closed at $52.53 yesterday.
Analyst said they believe bond issuance were strong through Q412 and were off to a "very good start" so far this year as corporation take advantage of low interest rates.
"We believe US issuance has remained strong in January and expect US issuance to remain strong during 1Q13 and well into 2013. Issuance is helped by a prolonged favorable interest rate environment and the substantial amount of debt coming due for refinancing, as well as a continued 'pull forward' refinancing of debt maturing later in the year and over the next few years," said analyst Edward J. Atorino.
Atorino thinks issuance from Europe, Asia and emerging markets may rise on stabilization in international financial markets.
For an analyst ratings summary and ratings history on Moody's Corp (NYSE: MCO) click here. For more ratings news on Moody's Corp click here.
Shares of Moody's Corp closed at $52.53 yesterday.
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