J.P. Morgan Reiterates Overweight On Equifax (EFX)

J.P. Morgan Chase & Co. is reiterating its Overweight rating and $37 price target on shares of Equifax Inc. EFX after it presented at a J.P. Morgan conference yesterday. In a note to clients, J.P. Morgan writes, "We're reiterating our Overweight rating on EFX shares following the company's presentation at JPM's 1st annual “Ultimate Services" Conference. SVP of IR Jeff Dodge was the lead speaker. Discussion focused on US Credit trends, leveraging of new data sources (TALX, IXI, etc.), and implications of evolving financial/mortgage markets, and FCF priorities. The company reported Q3,10 results about 2 weeks ago, so there was little new commentary on near-term financials. However, management remains confident on forward trends (esp. a ramp at the US Credit Services unit) and its new integrated analytics are gaining traction. A 400% dividend hike was announced earlier this week—in our view, that seems like a signal of management's confidence in sustainability of its top-line recovery." Shares of EFX lost 34 cents yesterday to close at $34.36, a loss of 1%.