Barclays on U.S. Business & Information Services: Updating Numbers on DNB, EFX and FICO

Barclays on U.S. Business & Information Services: Updating Numbers on DNB, EFC and FICO

Analyst, Manav Patnaik, updates price targets and FY13 estimates.

Dun & Bradstreet (NYSE: DNB): We increase our price target to $92, based on 11.7x our FY'13 FCF/share estimate of $7.86. Our prior $90 price target was based on 13.3x our prior FY'12 FCF/share estimate of $6.76.

Equifax (NYSE: EFX): We increase our price target to $45, based on 14.5x our FY'13 FCF/share estimate of $3.11; this is equivalent to 17.6x our FY'13 EPS estimate of $2.55. Our prior $42 price target was based on 15x our FY'12 FCF/share estimate of $2.80.

Fair Isaac Corp (Nasdaq: FICO): We increase our price target to $44, based on 12.5x our FY'13 FCF/share estimate of $3.50; this is equivalent to 15.7x our FY'13 EPS estimate of $2.80. Our prior $40 price target was based on 11.0x our FY'12 FCF estimate of $3.67.

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