Morgan Stanley analyst Toni Kaplan upgraded TransUnion (TRU) to Overweight from Equal Weight with a price target of $78, down from $80. Even in a worsening consumer environment, the stock presents an attractive valuation, Kaplan tells investors in a research note. The analyst views TransUnion as an "innovative" credit bureau, having been able to grow faster than Equifax (EFX) in 20 of the past 23 quarters in its U.S. markets excluding mortgage businesses and in 18 of the past 23 quarters internationally. While 2023 should be a challenging year for TransUnion given a potential consumer slowdown, the company will be able to grow revenue high-single-digit in a normal environment, writes Kaplan.
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