Shares of Equifax Inc. extended their plunge Thursday, falling another 8.9% in morning trade to a 2 1/2-year low, and have now lost more than one-third of their value since the credit-reporting company unveiled a massive data breach. With 120.37 million shares outstanding as of July 13, the $52.57 decline in the past week has wiped out $6.33 billion in market capitalization. Analyst Andrew Steinerman at J.P. Morgan slashed his stock price target to $135, which is about 50% above current levels, from $167, while reiterating his overweight rating. He said that after a meeting with management, the full impacts of the data breach are still uncertain. “However, some key points were clarified and we now feel better positioned to assess the near term drag (we estimate a 10% EPS drag in 2018), even as we acknowledge that facts are still emerging. The stock, which hit a 2 1/2-year low in intraday trade, has now lost 24% year to date, while the S&P 500 has gained 11%.
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