Needham analyst Kyle Peterson reiterated a Buy rating on Equifax (EFX – Research Report) today and set a price target of $295.00.
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Kyle Peterson has given his Buy rating due to a combination of factors that suggest Equifax is well-positioned for future growth. After attending the company’s investor day, he gained increased confidence in Equifax’s ability to meet its fiscal year 2025 and long-term goals, even amidst a volatile mortgage market. The company’s reaffirmation of its targets and the positive updates on growth opportunities in sectors like government, talent solutions, and international markets were particularly encouraging.
Furthermore, Equifax’s recent strategic moves, such as new product launches and the expansion of its total addressable market, are seen as key drivers for growth. The benefits from the company’s recent transition to cloud technology also contribute to the optimistic outlook. These factors collectively underpin the Buy rating, with a target price of $295, as they indicate that Equifax is on a solid path to achieving its medium-term objectives.
In another report released on June 18, RBC Capital also reiterated a Buy rating on the stock with a $300.00 price target.