Moody’s lowered to hold at Deutsche Bank as analysts see less upside

0
21

Moody’s MCO, -0.74% was downgraded to hold from buy at Deutsche Bank as part of a broader look at information services companies after earnings season. The broker left its price target on Moody’s unchanged, but said its price target represents a 60% premium to market multiples, while historically Moody’s trades at a 30% premium. Moody’s shares ended Tuesday with a 0.7% decline and the stock has dropped 20.5% this year. The broker also kept its ratings of FactSet Research Systems FDS, +0.05% and MSCI MSCI, -1.18% at hold.

This article was originally published by Marketwatch.com. Read the original article here.

Previous articleWashington Watch: U.S. consumers likely got some relief from sizzling price increases in July but Fed won’t feel any better
Next articleABN-Amro profit shoots above market views, operating expenses also climb

LEAVE A REPLY

Please enter your comment!
Please enter your name here