Piper Jaffray analyst Peter Appert lowered his price target on Moody's Corp (NYSE: MCO) to $117.00 (from $121.00) following Q2 results but maintained a Overweight rating. The analyst notes short-term pressures but long-term opportunity.

Appert commented, "Capital markets volatility is weighing on debt issuance volumes, contributing to lower near-term earnings expectations for MCO. This does not diminish our longterm enthusiasm for the secular growth story (pricing power, financial market disintermediation, margin upside, and free cash flow leverage driving mid-teens EPS growth), but could keep the stock in a trading range over the next month."

The firm trimmed FY 2015 EPS from $4.60 to $4.58 and FY 2016 EPS from $5.28 to $5.10.

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 $96.16 yesterday.