Citi opens ‘positive catalyst watch’ on Equifax into earnings

Citi analyst Arthur Truslove opened a “30-day positive catalyst watch” on shares of Equifax ahead of the company’s Q4 results on April 17. Management has guided on the basis of mortgage enquiry volumes down 26% in Q1, but Citi’s data suggests mortgage applications are down 13%, while mortgage originations may actually be up, the analyst tells investors in a research note. The firm believes the consensus underappreciates the impact on Equifax’s adjusted EBITDA arising from a rebound in the U.S. mortgage market. The firm keeps a Buy rating on the shares with a $035 price target.