Piper Jaffray Likes Moody's (MCO)

Piper Jaffray has an Overweight rating on shares of Moody's Corporation MCO. In a note sent to clients, Piper Jaffray writes, "December new debt issuance volumes remained robust, rounding out the strongest quarter in issuance volumes since 2Q 2008 in the US. We continue to see strong performance in the investment grade, high yield and leveraged loan markets, with more subdued volumes in the structured finance market. The strength in issuance volumes translates into an upward bias in estimate revisions for both MCO and MHP. We remain buyers of both stocks." Shares of MCO closed at $28.73 yesterday, a loss of 56 cents.