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TransUnion (NYSE:TRU) in May reported its first-quarter earnings ahead of expectations.
The Chicago-based company is poised to benefit from continued stability in consumer lending and room for upside in emerging verticals, according to Bank of America Securities.
The TransUnion Analyst: Heather Balsky upgraded the rating for TransUnion from Neutral to Buy, with a price target of $92.
The TransUnion Thesis: With insurance leading the way, strength in emerging verticals is likely to drive earnings upside for the company, Balsky said in the upgrade note.
Check out other analyst stock ratings.
"Larger P&C insurers are already starting to spend more on marketing, a positive for TRU," the analyst wrote. Although the company reported organic EV sales growth of 4% for the first quarter, this did not flow through to its guidance, she added.
TransUnioncould raise its 2024 organic sales, ex-mortgage, growth guidance, Balsky further stated. Investor sentiment may also be boosted by the company's margin expansion due to cost-savings, she added.
The stock is down 11% since mid-May, which lends further upside.
TRU Price Action: Shares of TransUnion had risen by 3.10% to $73.52 at the time of publication on Thursday.
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Posted In: TRU
