As previously reported before the open, Atlantic Equities analyst John Heagerty upgraded S&P Global (SPGI) to Overweight from Neutral, stating that the 20% decline in the shares since July has provided a better entry point into the stock. He lowered his EPS forecasts for both S&P and Moody's (MCO) to account for the fact that corporate debt issuance was "very weak" in Q4. However, he also noted that high yield spreads have narrowed quickly since the beginning of the year, which he believes should provide a steadier platform for issuance in 2019. Also, debt refinancing requirements, particularly for high yield issuers, continue to increase, noted Heagerty, who has a $210 price target on S&P shares.