Equifax, the Industrials sector company, was revisited by a Wall Street analyst today. Analyst Kyle Peterson from Needham reiterated a Buy rating on the stock and has a $295.00 price target.
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Kyle Peterson has given his Buy rating due to a combination of factors including Equifax’s strong performance in the second quarter, which exceeded market expectations in both revenue and earnings. This success was largely driven by better-than-anticipated results in the mortgage sector and the growth of new products.
Despite a slightly lower third-quarter outlook, attributed to minor delays in government business and challenges in the labor market, Peterson remains optimistic about Equifax’s ability to meet or surpass its medium-term targets. The company’s effective execution in a challenging macroeconomic environment and its increased capital returns, demonstrated by significant share repurchases, further support the Buy rating. Peterson believes that Equifax’s shares are a valuable core holding in the information services sector, maintaining a price target of $295.
According to TipRanks, Peterson is a 4-star analyst with an average return of 7.0% and a 49.21% success rate. Peterson covers the Technology sector, focusing on stocks such as Fair Isaac, Alight, and Affirm Holdings.
In another report released today, Wells Fargo also assigned a Buy rating to the stock with a $300.00 price target.