TransUnion dips after Needham downgrades to 'hold'

TRU Precious Metals

28/08/2024 15:00

** Shares of credit reporting agency TransUnion  TRU.N  fall
as much as 1.9%, last down 0.9% at $95.60
    ** Needham downgrades TRU to "hold" from "buy", citing
tempered enthusiasm given minimal upside potential 
    ** Falling interest rates should help TRU, but rival
Equifax's  EFX.N  business is more poised to benefit given its
significant exposure to US mortgage market compared to TRU,
brokerage says 
    ** Needham says mortgage market will be the biggest "swing
factor" for both stocks when it comes to interest-rate related
estimate revisions      
    ** Sixteen of 19 brokerages rate TRU stock "buy" or higher
and three "hold"; their median PT is $97.50 - LSEG data
    ** As of previous close, TRU shares up 40.4% YTD

 (Reporting by Arasu Kannagi Basil in Bengaluru)
 ((ArasuKannagi.Basil@thomsonreuters.com;))