Equifax rises after Needham lifts PT to $350

Equifax

28/08/2024 15:23

** Shares of credit reporting agency Equifax  EFX.N  rise 1%
to $306.36
    ** Needham raises EFX price target to $350 from $320, which
represents a 15.4% upside to stock's last close
    ** Brokerage says EFX stands to benefit as falling interest
rates should help overall consumer lending activity 
    ** Adds that EFX is more leveraged to lower rates given the
larger mortgage exposure     
    ** Disciplined capital allocation, stronger balance sheet
and better quality of earnings make EFX likely to be able to
maintain its premium valuation over the next 12 months - Needham
    ** Seventeen of 22 brokerages rate the stock "buy" or
higher, four "hold" and one "sell"; their median PT is $302 -
LSEG data 
    ** As of last close, EFX shares up 22.6% YTD

 (Reporting by Arasu Kannagi Basil in Bengaluru)
 ((ArasuKannagi.Basil@thomsonreuters.com;))