Needham upgraded TransUnion to Buy from Hold with an $84 price target. The company’s Q1 results came in above expectations, as solid core performance and additional debt prepayment helped offset some weakness in areas such as unsecured consumer lending, the analyst tells investors in a research note. The firm came away from the pint “impressed” with TransUnion’s ability to maintain its fiscal 2023 guidance despite macro uncertainty. Needham believes the shares can re-rate higher as the company executes and re-establishes credibility with investors. TransUnion’s estimates and fundamentals are showing signs of stabilization, and it is “becoming a self-help story” with debt reduction and acquisition integration, it writes.
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