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Barclays: Equifax must hire 'well-respected' industry veteran to revive brand

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Barclays: Equifax must hire 'well-respected' industry veteran to revive brand

Barclays analysts have lowered their investment opinion about Equifax Inc. to "equal weight" from "overweight," saying there are no immediate catalysts to boost the share price and investors need more visibility on business growth and the leadership team.

The analysts do not expect the company to suffer significant market share losses due to the breach that exposed the personal information of millions of its customers. Hiring a "well-respected" industry veteran as a successor to former Chairman and CEO Richard Smith could revive the company's brand, Barclays said, but the next permanent CEO would have to take a fresh look at his predecessor's long-term targets of achieving organic growth of 6% to 8% and annual shareholder returns of 11% to 15%.

Barclays revised its price target on the stock to $128 from $115.