JPMorgan lowered the firm’s price target on Equifax to $273 from $290 and keeps an Overweight rating on the shares following the Q1 report. The company’s Q2 guide was softer than expected, which implies a bigger ramp in the second half of the year as Equifax maintained its overall full year outlook, the analyst tells investors in a research note. The firm says the company signed two new payroll partnerships, including one provider with 6M records. The Verifier record additions are a “big positive,” according to JPMorgan.
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Read More on EFX:
- Equifax falls 5% to $226 after Q2, FY24 guidance misses estimates
- Equifax Delivers First Quarter 2024 Revenue Growth of 7% to $1.389 Billion Amid Challenging Mortgage Market
- Equifax backs FY24 adjusted EPS view $7.20-$7.50, consensus $7.64
- Equifax sees Q2 adjusted EPS $1.65-$1.75, consensus $1.87
- Equifax reports Q1 adjusted EPS $1.50, consensus $1.44
