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EFX

Equifax

$106.44

0.39 (0.37%)

06:32
09/28/17
09/28
06:32
09/28/17
06:32

Equifax's acting CEO says in WSJ editorial: 'On behalf of Equifax, I'm sorry'

Pualino do Rego Barros Jr., the acting CEO of Equifax, says in an editorial in the Wall Street Journal, "On behalf of Equifax, I'm sorry." He added, "People across the country and around the world, including our friends and family members, put their trust in our company. We didn't live up to expectations. We were hacked. That's the simple fact. But we compounded the problem with insufficient support for consumers. Our website did not function as it should have, and our call center couldn't manage the volume of calls we received. Answers to key consumer questions were too often delayed, incomplete or both. We know it's our job to earn back your trust. We will act quickly and forcefully to correct our mistakes, while simultaneously developing a new approach to protecting consumer data. In the near term, our responsibility is to provide timely, reassuring support to every affected consumer. Our longer-term plan is to give consumers the power to protect and control access to their personal credit data." He noted that he was appointed interim CEO on Tuesday and "I won't pretend to have figured out all the answers in two days. But I have been listening carefully to consumers and critics. I have heard the frustration and fear. I know we have to do a better job of helping you." He also announced a series of steps and actions aimed at rectifying the fallout from the recent hack, including adding agents and expanding training "until calls are answered promptly and knowledgeably. I will personally review a daily report on their operations." Equifax is also extending the services it is offering customers, "We have heard your concern that the window to sign up for free credit freezes with Equifax is too brief, so we are extending the deadline to the end of January. Likewise, we are extending the sign-up period for TrustedID Premier, the complimentary package we are offering all U.S. consumers, through the end of January." "By Jan. 31, Equifax will offer a new service allowing all consumers the option of controlling access to their personal credit data. The service we are developing will let consumers easily lock and unlock access to their Equifax credit files. You will be able to do this at will. It will be reliable, safe and simple. Most significantly, the service will be offered free, for life." Reference Link

  • 22

    Oct

EFX Equifax
$106.44

0.39 (0.37%)

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.
09/18/17
OPCO
09/18/17
NO CHANGE
Target $45
OPCO
Outperform
Equifax breach could become tailwind for Fortinet, says Oppenheimer
Following a meeting with Fortinet's (FTNT) management, Oppenheimer analyst Shaul Eyal believes the Equifax (EFX) breach could yield an effect akin to the late-2013 Target (TGT) breach, whereby heightened security awareness and an increase in involvement across boards and C-level executives which could convert into increased security budgets. Further, the analyst believes Fortinet is focused on better positioning itself for IT trends, and that its "strong growth" in subscription services remains in-tact and higher-end appliance traction remains a strong-point for its product segment. Eyal reiterates an Outperform rating and $45 price target on Fortinet's shares.
09/19/17
DBAB
09/19/17
NO CHANGE
Target $115
DBAB
Buy
Deutsche sees breach costing Equifax 'well below' $1B, calls selloff 'excessive'
Deutsche Bank analyst Kevin McVeigh lowered his price target for Equifax to $115 from $160 saying the shares could volatile around the congressional hearings on October 3. The analyst, however, views the $6.5B, or 35%, equity loss in a week as "excessive." He sees an $85 to $145 52-week trading range for the shares. Equifax closed yesterday up $1.40 to $94.38. Inflection in sentiment typically occurs 60-90 days post a congressional hearing before trading higher, McVeigh tells investors in a research note titled "Charting unchartered territory." He believes the total impact of the breach, not adjusting for insurance or other offsets, should be "well below" $1B. The analyst keeps a Buy rating on Equifax shares.
09/22/17
WELS
09/22/17
UPGRADE
Target $127
WELS
Outperform
Equifax upgraded to Outperform from Market Perform at Wells Fargo
Wells Fargo analyst William Warmington upgraded Equifax to Outperform following the 31% decline in the shares since the security breach was announced on September 7. The magnitude of the breach has created an "attractive entry point for this high-quality consumer credit franchise," Warmington tells investors in a research note. Despite the negative press, the analyst believes Equifax's core business-to-business segment will be largely unaffected from the breach. He lowered his price target for the shares to $127 from $135. Equifax closed yesterday up $2.25 to $98.25 and is trading up in the premarket another $2.45 to $100.70.

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CLI

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