J.P. Morgan Reiterates Overweight on Moody's and The McGraw-Hill Corp. (MCO, MHP)

J.P. Morgan is out with its "Credit Rating Agency Update" and reiterates overweight on Moody's MCO and The McGraw-Hill Corp. MHP. In a note to clients, J.P. Morgan writes, "We're reiterating our Overweight ratings on shares of McGraw-Hill and Moody's. The stocks posted a solid finish to 2010— MHP and MCO are both up ~20% since September (v. the S&P 500's ~10%). However, both names lagged many “Information Services” peers (such as MSCI, FDS, IHS, VRSK, etc.) that exhibited big share appreciation and multiple re-rating in 2010. We think both MCO and MHP could perform well near term given an upward estimate bias, reasonable valuations, and receding regulatory/legal overhang." J.P. Morgan has a $35 PT on MCO, and a $44 PT on MHP. At the time of posting, shares of MCO were trading at $29.66, up 0.61% from Thursday's close. At the time of posting, shares of MHP were trading at $39.21, up 0.56% from Thursday's close.