Uncertain Macro, Sluggish Hiring Trends To Impact Equifax's 2023 Results, Analyst Predicts - Downgrades Stock
Portfolio Pulse from Lekha Gupta
B of A Securities analyst Heather Balsky downgraded Equifax Inc (NYSE:EFX) to Underperform from Neutral and lowered the price target to $195 from $255. Balsky believes that the company could miss its 2023 sales guidance due to challenging macro conditions, lower-than-expected mortgage growth, and sluggish hiring trends. The company also reduced its 2023 outlook for revenues and EPS. As a result, Balsky lowered the 2023 and 2024 EPS estimates.
July 24, 2023 | 3:52 pm
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Equifax's stock has been downgraded due to challenging macro conditions and a lowered outlook for 2023. The company's EPS estimates for 2023 and 2024 have also been reduced.
The downgrade by B of A Securities and the lowered EPS estimates for 2023 and 2024 indicate a negative outlook for Equifax. This is likely to impact the company's stock price negatively in the short term.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100