Wolfe Research analyst Scott Wurtzel initiates coverage on $Moody's (MCO.US)$ with a buy rating, and sets the target price at $530.
According to TipRanks data, the analyst has a success rate of 54.5% and a total average return of 15.3% over the past year.
Furthermore, according to the comprehensive report, the opinions of $Moody's (MCO.US)$'s main analysts recently are as follows:
Aggregate Q3 issuance saw a 38% increase compared to last year. This has led to the projection of a 25% rise in Q3 ratings revenue growth, and also to higher revenue and adjusted EPS forecasts for 2024. It's anticipated that both companies in the ratings sector will surpass street estimates, given the robust issuance performance in the quarter and additional upside from indices.
The firm is enhancing its estimates for the company, primarily to account for the benefits stemming from robust issuance that is anticipated to continue into 2025.
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