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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