TransUnion price target raised to $110 from $108 at Oppenheimer

Oppenheimer raised the firm’s price target on TransUnion (TRU) to $110 from $108 and keeps an Outperform rating on the shares. The firm says the company reported a robust beat-and-raise quarter, driven by Financial Services and Consumer Interactive. TransUnion is Oppenheimer’s top idea going into the print. Despite the run-up of the stock since late May, the stock was still up 4.1% vs. up 0.1% for S&P 500 at close. Guidance implies a modest deceleration in Q3 and Q4 from Q2, but management emphasized the prudent conservatism in light of still uncertain macro backdrop, Oppenheimer adds. July appears to be a continuation of strength in 2Q, and the firm hasn’t seen any major setback on lending and delinquency trend. Therefore, Oppenheimer takes the updated guidance as another opportunity to deliver beat-and-raise again in Q3.