Mizuho starts coverage on S&P Global and Moody's

Mizuho starts coverage on financial information company, S&P Global SPGI.N with "outperform" and PT of $599, representing 22% upside to stock's last close of $490

Also starts coverage on peer Moody's MCO.N with "neutral" rating and PT of $504, representing 12.7% upside to stock's last close of $443.85

Brokerage sees their credit rating segment to be top-tier businesses

Cites despite recent volatility in near-term issuance, the medium-term outlook is positive due to recovering M&A activity and significant debt maturity walls

"We expect GenAI and automation to boost efficiency over time" - Mizuho

Brokerage prefers SPGI over MCO due to its better valuation and less exposure to volatile ratings

Avg. recommendation for SPGI is "buy" and MCO is "hold" - LSEG

SPGI down 3.6%; MCO down 6.2% YTD