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EFX

Equifax

$91.99

-4.67 (-4.83%)

, TRU

TransUnion

$41.45

-1.63 (-3.78%)

14:50
09/15/17
09/15
14:50
09/15/17
14:50

Group of AGs request Equifax stop selling credit monitoring services

A group of Attorneys General have issued a letter to King & Spalding's Phyllis Sumner, whom Equifax (EFX) tapped as their attorney, requesting that Equifax disable links to its fee-based services for users who may be impacted by the recent data breach until the sign-up period for the free service has ended. The group added that the cutoff date of November 21, 2017 for consumers to avail themselves of the free services provided appears "short-sighted" and suggested that the date be extended to at least January 31, 2018. The AGs also said that Equifax should, at minimum, be taking steps to reimburse consumers who incure fees to completely freeze their credit. "We are writing to raise our profound concerns regarding the massive data breach Equifax Inc. recently disclosed to the public. Early indications are the breach was caused by Equifax's failure to apply a necessary patch to its software. The breach has exposed the personal information of as many as half the consumers residing in the United States and its territories. Our concerns have only been heightened by Equifax's conduct since its disclosure of the breach. The webpage Equifax has dedicated to alerting the 143 million consumers potentially affected by the breach is causing a great deal of confusion and concern. Chief among the issues causing confusion and concern are the inclusion of terms of service that required consumers to waive their rights, the offer of competing fee-based and free credit monitoring services by Equifax, and the charges consumers incur for a security freeze with other credit monitoring companies like Experian, TransUnion (TRU), and Innovis." The Attorneys General involved in the letter were from Connecticut, the District of Columbia, Illinois, Pennsylvania, Alabama, Arizona, Delaware, Georgia, Hawaii, Idaho, Iowa, Kansas, Kentucky, Maine, Maryland, Michigan, Minnesota, Mississippi, Montana, Nebraska, New Jersey, New Hampshire, New Mexico, Nevada, North Dakota, Oklahoma, Ohio, Oregon, South Carolina, South Dakota, Virginia, and West Virginia. Reference Link

EFX

Equifax

$91.99

-4.67 (-4.83%)

TRU

TransUnion

$41.45

-1.63 (-3.78%)

  • 27

    Oct

EFX Equifax
$91.99

-4.67 (-4.83%)

09/15/17
09/15/17
DOWNGRADE

On The Fly: Top five analyst downgrades
Catch up on today's top five analyst downgrades with this list compiled by The Fly: 1. Equifax (EFX) downgraded to Hold from Buy at Argus with analyst Jasper Hellweg citing news of a major hack on the company's data that could have lasting effects. 2. FedEx (FDX) downgraded to Neutral from Buy at UBS with analyst Thomas Wadewitz citing TNT issues following the cyber-attack in June that knocked out multiple systems. 3. Carnival (CCL) downgraded to Neutral from Outperform at Credit Suisse with analyst Tim Ramskil saying he is worried that his estimate of absolute industry capacity growth in 2018-2021 is double that of the last five years. 4. American Airlines (AAL), United Continental (UAL), and Spirit Airlines (SAVE) were downgraded to Neutral from Overweight at JPMorgan. 5. Acuity Brands (AYI) downgraded to Market Perform from Outperform at Wells Fargo with analyst Richard Kwas saying his firm's electrical channel checks indicate the 8% consensus organic revenue growth estimate for FY18 does not have upside. The analyst thinks shares are likely range-bound in the $160-$200 range "for the time being." He believes a "material step up" in tiered solutions growth is needed for gross margin to outperform expectations. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
09/15/17
BARD
09/15/17
NO CHANGE
Target $115
BARD
Outperform
Equifax price target lowered to $115 from $141 at Baird
Baird analyst Jeffrey Mueler lowered his price target on Equifax to $115 from $141 as he reduced his Global Consumer revenue estimate while assuming tougher U.S. B2B new sales and cross-sales and some volume share loss. He is also assuming increased expenses and removing share repurchases from his estimates. Mueler maintained his Outperform rating on Equifax shares.
09/15/17
ARGS
09/15/17
DOWNGRADE
ARGS
Hold
Equifax downgraded to Hold from Buy at Argus
Argus analyst Jasper Hellweg downgraded Equifax to Hold following news of a major hack on the company's data that could have lasting effects. Hellweg does not believe the company has handled the aftermath of the breach very well and notes more than two dozen class-action lawsuits have been filed against Equifax and members of Congress have called for additional regulation of the credit reporting industry.
09/15/17
09/15/17
NO CHANGE

SunTrust lowers Equifax, TransUnion price targets but advises buying stocks
SunTrust analyst Andrew Jeffrey cut his price target on Equifax (EFX) to $110 from $155 and lowered his price target on TransUnion (TRU) to $48 from $54. As reasons for the reductions, he cited increased competition from free credit monitoring programs and the risk of share loss in the wake of the Equifax data breach. However, he believes that both stocks reflect an "overstated" risk of negative legislative and/or regulatory changes. Jeffrey does not expect governments to create "barriers to complete and comprehensive data access," since, according to the analyst, lenders and many service providers rely on the data generated by the credit bureaus. He recommends buying both stocks.
TRU TransUnion
$41.45

-1.63 (-3.78%)

09/14/17
LEHM
09/14/17
NO CHANGE
Target $115
LEHM
Overweight
Barclays cuts Equifax target, says further downside 'feels limited'
Barclays analyst Manav Patnaik lowered his price target for Equifax (EFX) shares to $115 but keeps an Overweight rating on the name. The stock closed yesterday down 15%, or $16.91, to $98.99. The analyst lowered his valuation multiple for the stock saying there are few, if any, positive catalysts over the near term as investors continue to digest the data breach. Patnaik, however, believes downside in the stock from current levels "feels limited." Regarding TransUnion (TRU), the analyst raised his price target for the shares to $50 from $48 and says he's a buyer on any further weakness. By all indications, the hack was an Equifax-specific event, Patnaik tells investors in a research note. After meeting with management, he believes TransUnion's fundamentals remain "very strong." The analyst maintains an Overweight rating on the shares.
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.
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.

TODAY'S FREE FLY STORIES

XLRN

Acceleron

$38.97

-0.41 (-1.04%)

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ICPT

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YAHOY

Yahoo Japan

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EPZM

Epizyme

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1.4 (7.84%)

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Initiation
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CSGP

CoStar Group

$280.60

3.97 (1.44%)

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YEXT

Yext

$12.99

-0.27 (-2.04%)

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FCFS

First Cash Financial

$60.65

0.65 (1.08%)

04:55
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Conference/Events
First Cash Financial management to meet with Jefferies »

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VNRX

VolitionRx

$2.75

0.07 (2.61%)

04:55
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SRCL

Stericycle

$70.19

-0.81 (-1.14%)

04:55
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Stericycle management to meet with Jefferies »

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FIVN

Five9

$22.17

0.31 (1.42%)

04:55
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Conference/Events
Five9 management to meet with Roth Capital »

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GMS

GMS Inc.

$33.50

-0.38 (-1.12%)

04:55
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Conference/Events
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  • 20

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HRTG

Heritage Insurance

$11.83

-0.72 (-5.74%)

04:55
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Heritage Insurance management to meet with Sandler O'Neill »

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  • 20

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HZNP

Horizon Pharma

$12.10

0.26 (2.20%)

04:55
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Horizon Pharma management to meet with Jefferies »

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  • 20

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OHI

Omega Healthcare

$32.53

-0.12 (-0.37%)

04:55
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Conference/Events
Omega Healthcare management to meet with Jefferies »

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MZDAF

Mazda

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Mazda management to meet with JPMorgan »

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SFS

Smart & Final Stores

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  • 20

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SRCI

SRC Energy

$8.18

0.16 (2.00%)

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AITB

AIT Therapeutics

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ARLP

Alliance Resource Partners

$18.90

-0.05 (-0.26%)

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  • 20

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EMR

Emerson

$63.21

0.22 (0.35%)

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  • 20

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SCSC

Scansource

$40.70

-0.05 (-0.12%)

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BRG

Bluerock Residential

$10.48

0.06 (0.58%)

04:55
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