UPDATE: Raymond James Downgrades Equifax Ahead of Limited Upside Opportunities

In a report published Tuesday, Raymond James analyst Wayne Johnson downgraded the rating on

from Outperform to Market Perform, and removed the $67.00 price target. In the report, Raymond James noted, “We are downgrading shares of EFX to Market Perform from Outperform. After a solid run in 2013, we encourage investors take profits, as we think there will be limited upside opportunities this year as the company works through a number of mortgage and currency-related headwinds, which could make results uneven in 2014. "Furthermore, we believe it is becoming increasingly difficult for the company to generate positive operating leverage as it works through the integration of several international acquisitions and invests more heavily in new products and faster growing markets. In our opinion, shares are fairly valued at current levels of 11x 2015E EBITDA, and we think further multiple expansion is unlikely given the lack of near-term catalysts.” Equifax closed on Friday at $69.80.