Equifax upgraded to Buy from Underperform at BofA

BofA upgraded Equifax to Buy from Underperform with a price target of $300, up from $164. After “several head fakes,” the firm believes the mortgage market is finally poised for a recovery as the Fed starts to cut rates, the analyst tells investors. The firm thinks this means Equifax is positioned for positive EPS revisions given mortgage-related products comprise 20% of 2023 sales and an even higher mix of EBITDA.