Equifax (EFX) PT Raised to $300 at Oppenheimer

Oppenheimer analyst Owen Lau raised the price target on Equifax (NYSE: EFX) to $300.00 (from $272.00) while maintaining a Outperform rating.

The analyst commented: "EFX reported adjusted 2Q24 EPS of $1.82, above our estimate of $1.70 and consensus of $1.74. The beat was driven by higher revenue in Workforce Solutions and lower D&A than expected (see first take). Management highlighted that new TWN records, partner integrations, and significant cost savings from cloud migration will benefit revenue and margin, and there could be substantial EPS improvement from 3Q24 to 4Q24. Guidance hasn't baked in a potential rate cut, which could add incremental revenue and margin. We believe the completion of USIS cloud migration could be a key driver, allowing for new product launches and meaningful margin expansion. We tweak estimates and raise our PT from $272 to $300."

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