BMO Capital Comments on Moody's Corp (MCO)
BMO Capital analyst Jeffrey Silber reiterated an Outperform rating and $420.00 price target on Moody's Corp (NYSE: MCO).
The analyst comments "MCO reported a 1Q24 beat driven by strong debt issuance, as MIS posted its second best ever revenue quarter. While MA growth slowed slightly, ARR rose 10%. Margin expansion mostly driven by the strong MA results. Management only raised the lowend of 2024 guidance, as it believes debt issuance was pulled forward from later in 2024; it lowered MA guidance owing to f/x and slightly slower start to the year. We adjust our estimates."
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Shares of Moody's Corp closed at $376.40 yesterday.