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Fly News Breaks for August 5, 2019
MCO
Aug 5, 2019 | 08:22 EDT
Argus analyst John Eade raised his price target on Moody's to $240 and kept his Buy rating after its Q2 earnings beat, saying that while the stock has outperformed the S&P500 index over the past quarter, he sees "more value" in the shares. The analyst notes that Moody's is facing risks around defaults in the corporate bond market and a slowdown in corporate debt issuance, but he also expects the company to benefit from the secular trends of "global GDP growth and debt market disintermediation" over the longer term.
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