FICO initiated with a Neutral at JPMorgan

JPMorgan initiated coverage of FICO (FICO) with a Neutral rating and $2,150 price target In recent years, FICO has leveraged its market position to take significant price increases in its Scores business, accelerating revenue growth, the analyst tells investors in a research note. However, the firm believes a Neutral rating is warranted at this juncture, saying the stock carries an expensive valuation that embeds high growth expectations despite meaningful execution risk.