Read Morgan Stanley' Stance On Equifax, Nielsen

  • Morgan Stanley analyst Toni Kaplan upgraded Equifax Inc. EFX to Overweight from Equal Weight and raised the price target to $325 (an upside of 14%) from $264.
  • The analyst expects Equifax's organic revenue growth to exceed most Information Services companies from 2022-2024, driven primarily by the company's Workforce Solutions segment. 
  • Kaplan views Equifax as having stability in its core growth and notes that shares currently trade at a roughly 30% multiple discounts to peers. 
  • The analyst downgraded Nielsen Holdings PLC NLSN to Underweight from Equal Weight and lowered the price target to $19 (a downside of 8%), from $25.
  • The analyst believes competitive alternatives are gaining more traction. 
  • While she is not calling for Nielsen to be displaced in traditional national TV measurement, she contends that growth may become more challenged as TV viewership declines.
  • The shift away from pay-TV continues to accelerate, and customers explore alternatives in digital, and growth of addressable advertising could mean that the company will play a smaller role, mentions Kaplan.
  • Price Action: EFX shares are trading lower by 0.56% at $284.02, and NLSN lower by 3.6% at $20.62 on the last check Wednesday.
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