Analyst Joshua Dennerlein of Bank of America Securities maintained a Buy rating on Equifax (EFX – Research Report), boosting the price target to $300.00.
Joshua Dennerlein has given his Buy rating due to a combination of factors that highlight the strength and resilience of Equifax’s business model. One of the primary reasons is the company’s ability to withstand economic downturns better than previously anticipated. This resilience is attributed to growth in the government sector and the expansion of existing mortgage portfolios, which are poised to benefit when interest rates decline.
Additionally, Dennerlein points to the significant growth potential in Equifax’s government vertical, which is expected to be a major revenue driver in the coming years. The company’s recent completion of its cloud migration program is also seen as a catalyst for improved customer outcomes through enhanced technology, data, and AI capabilities. These factors, combined with a raised price objective, underpin Dennerlein’s confidence in Equifax’s future performance.
According to TipRanks, Dennerlein is a 3-star analyst with an average return of 1.3% and a 48.61% success rate. Dennerlein covers the Real Estate sector, focusing on stocks such as Welltower, Omega Healthcare, and Sabra Healthcare REIT.
In another report released on April 25, Citi also maintained a Buy rating on the stock with a $294.00 price target.