Experian rating raised to 'outperform' from 'neutral' by Credit Suisse

8th Apr 2015 09:54

Shares in UK credit expert group Experian shot up 3% to trade at 1183p after its rating was promoted on Wednesday to 'outperform' from 'neutral' by Credit Suisse. The bank also raised its target price on Experian to 1300p from 1100p."The combination of accelerating organic growth, an on-going buyback scheme, prodigious cash generation and optimised balance sheet will drive a re-rating in our view," said Credit Suisse.The bank added that while the company's Consumer Services in the US will take time to recover from the strategic changes of last year, "we see that the experian.com brand is gaining increased traction, which we expect to drive improved performance".