Moody’s Target, Estimates Lowered at Goldman Sachs (MCO)

Credit ratings agency Moody’s Corporation ( MCO ) saw its earnings estimates and price target cut on Friday by analysts at Goldman Sachs. The firm said it now expects MCO shares, which had closed at $20.88 on Thursday, to reach $26. Goldman also lowered its estimates for the company, citing credit volatility in Europe, but maintained its “Neutral” rating. Moody’s shares were mostly flat in premarket trading Friday. The Bottom Line We have avoided shares of MCO since our early June 2008 coverage began, when the stock was trading at $39.13. The company has a dividend yield of 2.01%, based on last night’s closing stock price of $20.88. The stock has technical support in the $18 price area. If the shares can rebound, we see overhead resistance around the $24 price level.. We would remain on the sidelines for now. Moody’s Corporation ( MCO ) is not recommended at this time, holding a DARS™ Rating of 3.0 out of 5 stars. Be sure to visit our complete recommended list of the Best Dividend Stocks , as well as a detailed explanation of our ratings system here .

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Moody’s Target, Estimates Lowered at Goldman Sachs (MCO)

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