.jpg)
In a report released today, Joseph Foresi from Cantor Fitzgerald maintained a Hold rating on Moody’s Corp (MCO), with a price target of $168. The company’s shares opened today at $188.63, close to its 52-week high of $191.30.
Foresi observed:
“. We maintain our Neutral rating on MCO and our $168 PT*. Moody’s reported better than expected 1Q19 results, including a slight miss in the ratings. The good news is issuance appears to be moving to steady ground (-14% y/y) after a difficult 4Q18 (-28% y/y) & analytics came in better than expected. Management maintained 2019 guidance. We look to the conference call for color on the issuance market particularly structured finance, an update on Analytics, & progress in China.”
According to TipRanks.com, Foresi is a top 25 analyst with an average return of 22.5% and a 89.6% success rate. Foresi covers the Technology sector, focusing on stocks such as International Business Machines Corporation, Jack Henry & Associates, and Fidelity National Info.
Moody’s Corp has an analyst consensus of Moderate Buy, with a price target consensus of $188.67, implying a 0.0% upside from current levels. In a report issued on April 9, UBS also maintained a Hold rating on the stock with a $198 price target.
See today’s analyst top recommended stocks >>
Based on Moody’s Corp’s latest earnings release for the quarter ending December 31, the company reported a quarterly net profit of $250 million. In comparison, last year the company had a net profit of $373 million.
TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.
Moody’s Corp. engages in the provision of credit ratings, research, tools and analysis to the global capital markets. It operates through the Moody’s Investors Service (MIS) and Moody’s Analytics (MA) business segments.
