FICO initiated with an Outperform at Oppenheimer

Oppenheimer initiated coverage of FICO with an Outperform rating and $1,967 price target. FICO is an analytics software company providing FICO scores and decisioning software for financial institutions, the analyst tells investors in a research note. The firm says the dominance of the company’s Score product allows it to command strong pricing power, but notes that its price is still low compared to the average mortgage closing cost. This high entry barrier supports a premium earnings multiple, contends Opco. It believes FICO is an attractive high-quality long-term investment.