TransUnion's 2024 Guidance Has Upside, Says Bullish Analyst: 'P&C Insurers Are Spending More'
Portfolio Pulse from Priya Nigam
TransUnion (NYSE:TRU) has been upgraded from Neutral to Buy by Bank of America Securities, with a price target of $92. The company is expected to benefit from stability in consumer lending and growth in emerging verticals, particularly in the insurance sector. Despite a recent 11% decline in stock price, the company shows potential for margin expansion and increased 2024 guidance.
June 20, 2024 | 2:46 pm
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TransUnion has been upgraded to Buy by Bank of America Securities with a price target of $92. The company is expected to benefit from stability in consumer lending and growth in the insurance sector. Despite a recent 11% decline in stock price, there is potential for margin expansion and increased 2024 guidance.
The upgrade from Neutral to Buy by a major financial institution like Bank of America Securities is a strong positive signal. The expected benefits from stability in consumer lending and growth in the insurance sector, along with potential margin expansion and increased 2024 guidance, are likely to drive the stock price up in the short term.
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