(News Bulletin 247) – Credit Suisse maintains its Neutral opinion on the Experian share and revises its price target downwards, from 2,850 pence to 2,800 pence.
Experian initially forecast FY2024 growth of +4-6% YoY (vs. consensus of ~+5.8%),’ indicating that severe stress levels are expected for FY2024 ‘.
The deterioration in expectations is due, according to the analyst, ‘to the credit crunch, which is currently beginning to manifest itself, in particular in the subprime lending groups, and more particularly in the United States’.
In the end, Credit Suisse reduced ‘2024 EPS from £1.43 to £1.40 due to moderating revenue estimates and a higher tax rate in line with forecasts’.
For the broker, the short-term catalysts and risks are mainly related to the macroeconomic environment ‘given the exposure to consumer credit and, in the longer term, competitive threats from Open Data’.
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