(x-posted at M* too)
You cannot make this stuff up. (I'm skimming the full report now) The irony runs rich in this, indeed.
Analyst William Warmington Jr. comments "We are upgrading EFX from Market Perform to Outperform following a 31% decline in the shares (vs. the S&P 500 +1.4%) since the company first announced a data breach impacting 143MM US consumers on 9/7/2017. The magnitude of the breach combined with a multitude of high-profile issues (notification timing, Congressional investigations/hearings insider stock sales, management turnover)
have created, in our opinion, an attractive entry point for this high-quality consumer credit franchise
. In this note we attempt to quantify the potential financial impact of the breach (framed as bull, base and bear cases) and are lowering our ests to reflect the base case. Despite the poor publicity, we believe EFX’s core B2B business will be largely unaffected."
A steaming pile of manure is still a steaming pile of manure, no matter how optimistic or over-reacty people/analysts are regarding it's stench.
+3.67 | 3.73%
There are always the algos and idiots who blindly trade what someone suggests and on that alone. Pay no attention to the noise....
When I think about it, it's not just the financial risk here, but a national security one. I imagine among the 143 million who've had info stolen are some people who have access to nuclear facilities and weapons systems. I wonder if this data can be used for some sort of access or virtual impersonation at government facilities' networks.
+4.87 | 4.95%