UBS Reiterates Buy on Equifax, Sees Cloud and International Growth Driving Long-Term Upside

UBS reaffirmed its Buy rating and $315 price target on Equifax (NYSE:EFX), highlighting the company’s strong growth framework and significant long-term earnings potential, particularly if the mortgage market rebounds more meaningfully.

Equifax recently reaffirmed its long-term revenue growth target of 8–12%, countering expectations that it might scale that back to a more modest 7–10% range. UBS sees this as a positive signal, underpinned by the company's ongoing cloud transformation, which is expected to accelerate product development and enhance integration across its U.S. Information Solutions (USIS) and Employer Services (EWS) segments—together comprising nearly 80% of revenue.

The firm also sees sizable international expansion opportunities within a total addressable market exceeding $50 billion. While the outlook for the U.S. mortgage market remains cautious—with only modest 2–3% annual growth assumed through 2030—the base case doesn't factor in a full recovery. Should mortgage activity rebound more significantly, UBS estimates a potential 27% boost to 2030 EPS, increasing it to around $19 versus its current projection of $15.

UBS maintains that Equifax is well-positioned to deliver on its capital allocation plans, targeting $1.35 billion in 2025 and over $3 billion by 2030. Overall, the firm sees a compelling long-term investment case backed by strong execution, scalable infrastructure, and optional upside from cyclical recovery.