Experian PLC

EXPN: XLON (GBR)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
	GBX 3,182.00	Cjh	Qtjkzhpxj

Experian: Mostly Steady but a Few Air Pockets in the First Quarter

Rajiv Bhatia

Jul 16, 2024

Wide-moat-rated Experian reported 7% organic revenue growth in its first fiscal quarter, which compares favorably with 8% in the fourth quarter. Experian maintained its full-year outlook for organic revenue growth of 6%-8% and adjusted margin expansion of 30 to 50 basis points. Overall, there was little in its trading update that would alter our long-term view of the firm. We will maintain our fair value estimate of GBX 3,900 per share. We regard the shares as being modestly undervalued and currently prefer Experian's peer TransUnion from a valuation perspective.

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