Keefe, Bruyette & Woods Initiates Market Perform on Moody’s (MCO)

Keefe, Bruyette & Woods is out with a research report this morning, where it initiates a Market Perform rating on Moody’s Corporation MCO; it has a $25.00 price target on the stock. The KBW analysts said that they believe that Moody’s will continue to be an important player in U.S. and international capital markets. They added, “While its reputation has been tarnished by the financial crisis and regulatory agencies have focused on ways to constrain its influence, alternatives remain limited and its earnings power remains strong. We do believe that concerns regarding legal and regulatory issues will continue to pressure the stock, and initiate with a Market Perform rating.” Moody's Corporation, through its subsidiaries, is one of the largest providers of credit ratings in addition to providing other research and analysis to capital markets participants.