Equifax Faces Prospects for Ebbing Verification, Services Demand, Oppenheimer Says

MT Newswires Live11-20 01:13

Equifax (EFX) may face eroding demand for employment and income verification if the new Trump administration cuts government spending, Oppenheimer said Tuesday in a report.

"Trump's pro growth agenda could also mean interest rate staying higher for longer, which may impede loan growth," Oppenheimer said.

"The rise of AI, expense control due to macro uncertainty and streamlining of mid-level management" may spur a "tough white-collar market," crimping prospects for other Equifax segments in the near term, Oppenheimer said.

The headwinds indicate "potential risk for downward earnings revision going into early 2025," the report said.

Oppenheimer cuts its price target on Equifax stock to $286 from $315 and maintained its outperform rating.

Price: 242.05, Change: -3.25, Percent Change: -1.32

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