TransUnion double downgraded to Underperform at BofA on lack of catalysts

As previously reported, BofA downgraded TransUnion to Underperform from Buy with a price target of $44, down from $95, as the firm expects the slowdown in consumer lending to persist into mid-to-late 2024 and sees a lack of near-term catalysts. Following a 28% cut to Q4 EPS guidance, the firm’s confidence in management’s visibility is “low” and it views macro headwinds and relatively high leverages as “sentiment overhangs,” the analyst tells investors.