Stifel analyst Shlomo Rosenbaum lowered the firm’s price target on Equifax to $208 from $231 and keeps a Buy rating on the shares. 2024 is “likely to be another year impacted by weakening mortgage trends” and the margin lift from migrating off of legacy systems is likely to go further into 2024 than the firm had previously expected, the analyst tells investors. The firm is reducing 2024 estimates, despite layering in the Boa Vista acquisition, the analyst added.
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Read More on EFX:
- Equifax falls 6% to $163.98 after cutting FY23 outlook
- Equifax Third Quarter Results Show Strong Execution Towards Strategic Priorities In Challenging Mortgage Market
- Equifax cuts FY23 adjusted EPS view to $6.62-$6.72 from $6.98, consensus $6.91
- Equifax sees Q4 adjusted EPS $1.72-$1.82, consensus $2.01
- Equifax reports Q3 adjusted EPS $1.76, consensus $1.78