Bank of America initiated coverage on Moody's Corporation with a Buy rating. The bank established a price target of $550 for the stock. This initiation is part of a comprehensive review of 19 companies in the Information and Business Services sector.
BofA analysts project a 7% average revenue increase for the sector by 2026. The bank forecasts average earnings per share growth of 12% for the group. Free cash flow across the sector is expected to rise by an average of 11%.
The rating reflects confidence in Moody’s growth trajectory within the expanding financial data and analytics industry. No specific market reaction to the initiation was detailed in the available reports.