UPDATE: Equifax earnings: Breach may have hurt consumers, but it won't hurt the business
By Emma Court
Ultimately, consumers aren't Equifax's main business -- selling services to other businesses is
Equifax Inc.'s massive data breach took several weeks to become public, likely affected a staggering number of U.S. consumers and exposed extremely personal financial information.
Expecting there to be ramifications when the company (EFX) reports third-quarter earnings, scheduled for Thursday?
Don't look on Wall Street.
"Megabreach creates opportunity," was Wells Fargo Securities analyst William Warmington, Jr.'s take.
Though the data breach might render Wall Street earnings estimates too high, possibly creating stock volatility come Wednesday, SunTrust Robinson Humphrey analyst Andrew Jeffrey also advised investors to buy.
"Our view remains that Equifax's core value proposition -- facilitating underwriting, decisioning, marketing and risk management -- remains intact," Jeffrey said.