Piper Jaffray analyst Peter Appert reiterated an Overweight rating and boosted his price target on Moody's Corp (NYSE: MCO) to $122.00 (from $107.00) citing impressive operating momentum following recent Q4 results.

Appert commented, "2014 ended on a strong note for Moody's, with initial guidance pointing to continued positive momentum in 2015. While FX, tougher comps, and increased worries about possible DoJ action create near-term headwinds, the secular growth opportunities for MCO remain impressive and should support mid-teens or better sustainable EPS growth. We reiterate our Overweight rating and boost our price target to $122 from $107."

The firm trimmed FY 2015 EPS from $4.65 to $4.60 and FY 2016 from $5.35 to $5.30.

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Shares of Moody's Corp closed at $98.04 yesterday.