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Moody's (MCO) Stock Price Target Lowered at BMO Capital

NEW YORK (TheStreet) -- Moody's (MCO) stock price target was cut to $94 from $101 at BMO Capital Markets. The firm has a "market perform" rating on the stock.

The lower price target comes after the New York-based credit ratings company reported weaker-than-expected results for the 2016 first quarter.

Moody's reported earnings of 93 cents per share, missing analysts' expectations of $1.06 per share. Revenue fell by 6% to $816.1 million year-over-year and did not meet estimates of $852.1 million.

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