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Equifax Inc's (NYSE:EFX) recently announced pricing for VantageScore® 4.0 mortgage credit scores is likely to preserve the company's unit economics, according to Needham.
EFX stock is moving in positive territory. Get the inside scoop here.
The Equifax Analyst: Analyst Kyle Peterson reiterated a Buy rating and a price target of $295.
The Equifax Thesis: The company announced a pricing of $4.50 for VantageScore 4.0, which will be maintained through the end of 2027, Peterson said in the note.
Equifax will also provide VantageScore 4.0 free of cost through end-2026 for customers who purchase a credit report that includes FICO scores, he added.
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The incremental value added by Equifax offering a free TWN indicator and additional data with all its mortgage credit reports "far exceeds the modest implied price increase" and insulates the company from criticism from the Federal Housing Finance Agency (FHFA), the analyst stated.
"In addition, we believe that the company’s decision to price VantageScore at $4.50 (well below either of FICO’s pricing options) will be viewed favorably as it provides lenders with multiple options to keep a lid on credit reporting costs during the home buying process," he further wrote.
EFX Price Action: Shares of Equifax had risen by 1.88% to $242.47 at the time of publication on Wednesday.
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