TransUnion upgraded to Outperform into mortgage recovery at Wolfe Research

Wolfe Research upgraded TransUnion to Outperform from Peer Perform with a $130 price target While the shares are up 55% year-to-date, the upside can continue, driven by “conservative” guidance setting up beat and raise potential and a recovery in mortgage volumes in 2025 and 2026, the analyst tells investors in a research note. The firm remains slightly cautious on growth for Neustar, but believes that if TransUnion can execute and revenue recovers as consumer credit markets open up, it could lead to upside on Emerging Verticals revenue. Further, with interest rates coming down, mortgage volumes may begin to recover as we move into 2025, contends Wolfe.