RBC Capital analyst Ashish Sabadra upgraded FICO (FICO) to Outperform from Sector Perform with a price target of $2,170, up from $2,040. The share selloff, fueled by concerns about government-sponsored enterprise privatization, nomination of the new Federal Housing Finance Agency director, potential risks to fiscal 2025 guidance from higher rates impacting mortgage volume, and a slowdown in Platform annual recurring revenue, has created an attractive buying opportunity, the analyst tells investors in a research note. RBC believes FICO’s dominant position for mortgage scores “remains intact driving strong pricing power.”
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