Morgan Stanley upgrades Experian to 'overweight'
Morgan Stanley upgraded Experian to 'overweight' and increased its price target for the credit checking company on a positive outlook for its business-to-consumer operations.
Experian
3,167.00p
09:30 19/04/24
FTSE 100
7,837.71
09:30 19/04/24
FTSE 350
4,310.26
09:30 19/04/24
FTSE All-Share
4,266.56
09:30 19/04/24
Support Services
10,352.92
09:30 19/04/24
Trading for Experian has been resilient during Covid-19 and structural growth trends have accelerated further, Morgan Stanley analyst Anvesh Agrawal said. He upgraded the shares from 'equal weight' and increased his price target to £33.30 from £28.20.
"The B2C outlook is even more bullish than we initially anticipated," Agrawal wrote in a note to clients. "The stock remains expensive, as ever, but we find waiting for a pullback has rarely worked. Back to overweight on this multi-year compounder."
Experian increased its guidance for second-quarter revenue in September after stronger trading in July and August. The FTSE 100 company said the upgrade was due to strength in US mortgages and services for consumer.