Analyst Ryan Griffin CFA from BMO Capital maintained a Buy rating on TransUnion and increased the price target to $118.00 from $115.00.
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Ryan Griffin CFA has given his Buy rating due to a combination of factors including TransUnion’s strong quarterly performance, which exceeded both consensus and guidance expectations. The company’s Trusted-Call-Solutions has been a significant growth driver, and management anticipates continued robust growth in this area. Additionally, the Financial Services segment showed a 17% year-over-year increase in revenues, surpassing expectations, with a stable lending market and positive trends in auto and fintech lending.
International revenues also experienced a 7% year-over-year increase, with notable performance in Canada and Africa, and positive developments in India. Despite challenges in the lending environment, TransUnion is trading at a discount compared to its peers, which Ryan Griffin CFA believes is unjustified. The OneTru platform is expected to enhance the company’s market position, supporting the Buy rating.
In another report released yesterday, Morgan Stanley also maintained a Buy rating on the stock with a $122.00 price target.