UPDATE: Atlantic Equities Upgrades Equifax (EFX) to Overweight

Atlantic Equities analyst Simon Clinch upgraded Equifax (NYSE: EFX) from Neutral to Overweight with a price target of $230.00.

The analyst comments "Following 3Q22 results, we are upgrading Equifax to Overweight and reiterating our Overweight rating on TransUnion. Our analysis suggests that the time is fast approaching when investors can start valuing the stocks on FY24 earnings. We also believe that the mixed 3Q22 earnings for both companies had some positive takeaways, such as better structural growth for Equifax and solid margin execution at TransUnion. We explicitly factor in a mild recession in FY23, and despite lowering our FY23 and FY24 adjusted EPS estimates for Equifax by c7.0%, we are raising our target price to $230 and upgrading the shares to Overweight. Our estimates for TransUnion fall by 9.5% in FY23 and FY24, but with valuation remaining extremely attractive, we reiterate our Overweight rating with a $90 target price."

For an analyst ratings summary and ratings history on Equifax click here. For more ratings news on Equifax click here.

Shares of Equifax closed at $197.91 yesterday.

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