Benchmark Analysts Raise Price Target for Moody’s Corporation (MCO)
On Monday analysts at Benchmark raised the price target for credit rating provider Moody’s Corporation (MCO).
The analysts said they now see Moody’s price reaching $52. The new target is a +15.6% upside to Friday’s closing price of $45.
The firm also boosted the estimates for MCO due to strength in bond issuance. They maintain a “Buy” rating for Moody’s.
Moody’s shares were up 38 cents, or +0.84%, in premarket trading on Monday.
The Bottom Line
Shares of Moody’s Corporation (MCO) have a 1.42% dividend yield, based on Friday’s closing stock price of $45.00. The stock has technical support in the $40-$42 price area. If the shares can firm up, we see overhead resistance around the $48-$50 price levels.
Moody’s Corporation (MCO) is not recommended at this time, holding a Dividend.com DARS™ Rating of 3.3 out of 5 stars.
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