MCO - Solid MA ARR Trends Offset by Reiterated MIS Guide

研报英文原文证据摘录

MCO - Solid MA ARR Trends Offset by Reiterated MIS Guide

Business and Information Services

Business and Information Services - Market Weight

MOODY'S CORPORATION (MCO) July 22, 2026

MCO - Solid MA ARR Trends Offset by Reiterated MIS Rating:

Guide Outperform

Price:

$489.70

The Wolfe Byte Price Target:

Shares of MCO performed about in-line today (-0.2% vs. S&P -0.1%) following $550

% Upside:2Q26 earnings. MA ARR growth acceleration a clear positive, though offset by 12.3%

reiterated MIS guide despite strong 2Q. See conservatism if macro remains stable.

View MCO Model

Reiterate OP rating and PT of $550. View Comp Table

Company Information

●MIS Puts and Takes: Heading into the print we were constructive on growth 52-Week Range $412 - $540

of MIS revenue based on better-than-expected June debt issuance data. Rated Market Cap. (MM) $85,551

issuance grew 33% Y/Y and management revised guidance upward, expecting Enterprise Value (MM) $92,776 Shares Out. (MM) 174.7

full-year issuance to grow in the MSD% range (vs. LSD% prior), with upward Avg. Value Traded (MM) $704.47

revisions to PPIF and FIG rated issuance growth expectations. Despite strong SI% of Float 1.7%

results, management reiterated MIS revenue guidance on the assumption that

AI hyperscalers would taper volumes in 2H and considering tough compares 560540

from last year. We believe investors may have been expecting a raise to MIS 520

guidance given the strong 2Q growth, and the lack of raise likely contributed to 480

the muted reaction in shares today. That said, management noted that if spreads 460440

remain at tight levels as they are now and/or hyperscaler issuance continues at 420 400

elevated rates, there could be tailwinds in the back half of the year. We point 380