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EFX

Equifax

$100.16

-15.799 (-13.62%)

, FICO

Fair Isaac

$139.94

-2.14 (-1.51%)

15:55
09/13/17
09/13
15:55
09/13/17
15:55

Fair Isaac slides as Equifax CEO hints at changes after data breach

Shares of Fair Isaac (FICO) are sliding after Equifax (EFX) CEO Richard Smith apologized for the massive data breach at the company in an USA Today op ed and said the company is going to "make changes" to ensure nothing similar happens again. Fair Isaac had disclosed in a 10K filing any changes at any of the three major credit report agencies could have "a material adverse effect" on revenues and results of operations. EQUIFAX TO MAKE CHANGES: Equifax CEO Richard Smith has apologized for the massive data breach at the company, which he described as "the most humbling moment in our 118-year history" and resolved to "make changes" to ensure nothing similar happens again. Smith addressed the breach, which may have exposed personal data on up to 143M people, in an op ed published in USA Today. "Understandably, many people are questioning why it took six weeks to report the incident to the public," Smith wrote, adding that shortly after Equifax discovered what the company then thought was a limited intrusion, it engaged a cybersecurity firm to conduct an investigation. He continued, "Our top priority is doing everything we can to support affected consumers. Our team is focused on this effort, and we are engaged around the clock in responding to millions of inquiries from consumers. Importantly, outside investigators found no evidence of unauthorized activity on our core consumer or commercial credit reporting databases." CHANGES MAY HAVE 'MATERIAL ADVERSE EFFECT': In a 10K filing, Fair Isaac said: "We also derive a substantial portion of our revenues and operating income from our contracts with the three major credit reporting agencies, TransUnion [TRU], Equifax and Experian [EXPGY], and other parties that distribute our products to certain markets. The loss of or a significant change in a relationship with one of these credit reporting agencies with respect to their distribution of our products or with respect to our myFICO offerings, the loss of or a significant change in a relationship with a major customer, the loss of or a significant change in a relationship with a significant third-party distributor - including credit card processors-, or the delay of significant revenues from these sources, could have a material adverse effect on our revenues and results of operations." PRICE ACTION: In late afternoon trading, shares of Fair Isaac have dropped almost 2% to $139.56, while Equifax is once again down about 15% to $98.78. Meanwhile, TransUnion has slid over 8% to $43.77, and Experian had slipped 0.5% to $20.30.

EFX

Equifax

$100.16

-15.799 (-13.62%)

FICO

Fair Isaac

$139.94

-2.14 (-1.51%)

TRU

TransUnion

$43.64

-4.085 (-8.56%)

EXPGY

Experian

$20.39

0.286 (1.42%)

  • 27

    Oct

EFX Equifax
$100.16

-15.799 (-13.62%)

09/08/17
MACQ
09/08/17
NO CHANGE
MACQ
Beneficiaries of Equifax data breach at Macquarie
Macquarie analyst Sarah Hindlian said key beneficiaries of the Equifax (EFX) data breach are Proofpoint (PFPT) with its leading messaging solutions, Symantec (SYMC) which offers consumer identity theft services, and Imperva (IMPV) which offers web application security solutions.
09/11/17
PIPR
09/11/17
NO CHANGE
PIPR
Piper sees Equifax breach as positive for Symantec, FireEye, Proofpoint
Piper Jaffray analyst Andrew Nowinski views Equifax's (EFX) a cybersecurity breach as positive for Symantec (SYMC), FireEye (FEYE) and Proofpoint (PFPT). "Mega-breaches like Equifax not only create awareness for the security space, but typically result in an increase in spending by enterprises," Nowinski tells investors in a research note. Equifax offers a number of credit monitoring and identity theft protection services, similar to Symantec's LifeLock, the analyst points out. He believes Symantec should see a benefit to its LifeLock business. Nowinski adds FireEye's Mandiant has been reported to have been contracted to investigate the breach. The analyst's top picks remain Proofpoint and Symantec.
09/11/17
EVER
09/11/17
NO CHANGE
Target $174
EVER
Outperform
Equifax weakness a buying opportunity, says Evercore ISI
Evercore ISI analyst David Togut defended Equifax again after the second day of weakness due to the data breach. Togut said said there no new negative fundamental developments that would pressure the long-term earnings power of the company and reiterated his Outperform rating and $174 price target.
09/12/17
BARD
09/12/17
NO CHANGE
Target $141
BARD
Outperform
Equifax pullback on data breach an overreaction, says Baird
Baird analyst Jeffrey Meuler said although the Equifax data breach remains a notable negative, he views the selloff as an overreaction. He continues to believe the company's access to key data sources are unlikely to be affected and client relationships are unlikely to be meaningfully impaired in the intermediate to long-term. Meuler reiterated his Outperform rating and $141 price target on Equifax shares.
FICO Fair Isaac
$139.94

-2.14 (-1.51%)

09/21/16
LEHM
09/21/16
UPGRADE
Target $37
LEHM
Overweight
TransUnion upgraded to Overweight from Equal Weight at Barclays
Barclays analyst Manav Patnaik upgraded TransUnion (TRU) to Overweight saying credit bureaus will continue to outperform and that the market will benefit from a "scarcity value" in Industrials. The analyst keeps a $37 price target for the shares. Patnaik calls S&P Global (SPGI) his top pick in Information Services and raised his price target for the shares to $145 from $140. The analyst also views Moody's (MCO) as a "name to own" and upped his price target for the shares to $125 from $120. Patnaik this morning also downgraded Fair Isaac (FICO) to Equal Weight.
08/01/17
WELS
08/01/17
NO CHANGE
WELS
Fair Isaac price target raised to $160 from $150 at Wells Fargo
After Fair Isaac reported weaker than expected Q3 results, Wells Fargo blames the miss on a year-over-year decline in its license fee revenue on a "difficult comp." The firm says that the company's results were "very strong" other than new license revenue. It thinks that the company's positive catalysts, including multiple new business wins, leave it poised for "growth acceleration, margin expansion and stock price appreciation." Wells raised its price target on the shares to $160 from $150 and keeps an Outperform rating on the stock.
12/06/16
WELS
12/06/16
NO CHANGE
WELS
Outperform
Wells frames recent underperformance in Fair Isaac, stays bullish
Wells Fargo analyst William Warmington attributes the recent underperformance in shares of Fair Isaac to weaker than expected FY17 guidance, investor perception that negative rates will hurt the company's Scores business and sector rotation out of "more stable" financials into banks. The analyst views management's 2017 guidance as conservative and thinks the company appears well-positioned to benefit from higher rates. He believes Fair Isaac has "significant long-term growth opportunities." Warmington keeps an Outperform rating on the shares with a $125-$135 price target range.
09/21/16
LEHM
09/21/16
DOWNGRADE
Target $135
LEHM
Equal Weight
Fair Isaac downgraded to Equal Weight from Overweight at Barclays
Barclays analyst Manav Patnaik downgraded Fair Isaac to Equal Weight citing valuation with the stock up 78% since 2015. The analyst keeps a $135 price target for the shares.
TRU TransUnion
$43.64

-4.085 (-8.56%)

06/28/17
BARD
06/28/17
NO CHANGE
Target $48
BARD
Outperform
TransUnion guidance remains conservative, says Baird
Baird analyst Jeffrey Mueler hosted investor meetings for TransUnion and continues to view it as a company with a long growth runway and sizable untapped addressable market. The analyst sees many growth drivers that are in the early to middle stages of monetization so he expects strong growth with strong margin expansion to continue. He believes guidance and estimates remain conservative. Meuler reiterated his Outperform rating and raised his price target to $48 from $46 on TransUnion shares.
09/05/17
RHCO
09/05/17
INITIATION
Target $54
RHCO
Buy
TransUnion initiated with a Buy at SunTrust
SunTrust analyst Andrew Jeffrey started TransUnion with a Buy rating and $54 price target. The analyst expects share gains to drive greater than peer revenue growth and margin expansion.
09/06/17
09/06/17
INITIATION

On The Fly: Top five analyst initiations
Catch up on today's top five analyst initiations with this list compiled by The Fly: 1. Caterpillar (CAT) initiated with a Neutral at Seaport Global. 2. Liberty Global (LBTYA) initiated with a Buy at Deutsche Bank. 3. TransUnion (TRU) initiated with a Buy at SunTrust. 4. Inovio (INO) initiated with a Buy at Citi. 5. e.l.f. Beauty (ELF) initiated with a Buy at DA Davidson. This list is just a portion of The Fly's analyst coverage. To see The Fly's full Street Research coverage, click here.
09/08/17
DBAB
09/08/17
NO CHANGE
Target $160
DBAB
Buy
Equifax shares could close down 10% on breach, says Deutsche Bank
Deutsche Bank analyst Kevin McVeigh believes shares of Equifax (EFX) could close down 10% today after the company disclosed a security breach potentially impacting up to 143M consumers. The stock in premarket trading is down 13%, or $18.72, to $124.00. The analyst says that while difficult to quantify, his best effort suggests the financial impact could be in the range of $300M-$400M, which reflects the costs for credit monitoring, regulatory fines and penalties. Keith recommends waiting for Equifax shares to settle before accumulating fresh positions. The analyst, however, recommends buying TransUnion (TRU) on any selloff in sympathy to Equifax. He thinks TransUnion could trade down 3%-5% today before rebounding. Keith has a Buy rating on Equifax with a $160 price target.
EXPGY Experian
$20.39

0.286 (1.42%)

05/19/17
JEFF
05/19/17
DOWNGRADE
JEFF
Hold
Experian downgraded to Hold from Buy at Jefferies
Jefferies analyst Kean Marden downgraded Experian to Hold citing slowing U.S. credit momentum and uncertainty in Brazil.

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