Experian: Ask Jevons

研报英文原文证据摘录

Experian: Ask Jevons

Deutsche Bank Group

Deutsche Numis Research

Rating Company Date

Buy Experian 10 June 2026

Forecast Change

Europe

United Kingdom

Reuters Bloomberg Exchange Ticker Price at 8 Jun 2026 (GBP) 2,639.00

EXPN.L EXPN LN LSE EXPN

Price Target (GBP) 3,500.00

Business Services

Business & Information ADR ISIN 52-week range (GBP) 4,088.002,375.00-

EXPGY US30215C1018

Services

Ask Jevons

Valuation & Risks

Ben Wild

For Experian, the foreseeable future will be defined by how the group navigates the

Research Analyst

ongoing technology platform shift to AI. In this note, we assess Experian’s +44-20-754-15334

competitive position across its core segments in that context.

David Brockton

Ask Jevons: lower costs enable broader usage +44-20-754-11721

In B2B, our core thesis is that the AI platform shift strengthens the group's market

Steve Woolf

position. For Experian, software is distribution not product. In the past, falling costs

for information, analytics and software products have enabled more efficient

+44-20-754-54604

distribution of its products to a broader range of use cases. We expect the AI

platform shift to further accelerate falling costs for these products - and expect the Bharat Rajesh, CFA

group to have an opportunity to pursue additional, richer value pools as a result. Research Associate

Experian has a preferential position to take advantage of these opportunities: it has

scaled distribution, sits within complex embedded credit decisioning

Key changes

infrastructure, and is a highly trusted counterparty to regulated institutions.

4,000.00 to

TP ↓ -12.5%

3,500.00

Agentic risks - but the opportunity sits in bureau-powered capabilities Source: Deutsche Bank

We see greater risk within Consumer Services. As AI platforms become more