Company Update

研报英文原文证据摘录

Company Update

Deutsche Bank

Research

Rating Company Date

Buy TransUnion 17 June 2026

North America

United States

Reuters Bloomberg Exchange Ticker Price at 16 Jun 2026 (USD) 68.92

TRU.N TRU US NYS TRU

Price target 105.00

Industrials

52-week range 99.22 - 65.70

Business Services &

Education

Management meeting takeaways

Valuation & Risks

Faiza Alwy

We hosted TransUnion CFO Todd Cello and the IR team for meetings in Boston this

Research Analyst

week. We maintain our Buy rating on TRU seeing relative valuation (<15x CY26 P/E) +1-212-250-7611

as highly compelling and under-appreciated opportunity around improving FCF

conversion and capital allocation optionality alongside continued +HSD top-line and Avi Sharma

Research Associate

accelerating EPS growth supported by stable macro and innovation. Our key

+1-212-250-7226

takeaways below.

Sophie Sheng

Despite geopolitical backdrop, macro is stable

+1-212-250-9954

The company reiterated that credit conditions in the U.S. are stable, supported by

favorable employment trends, durable consumer spending, and relatively stable

delinquencies. Management highlighted that based on favorable trends in April and

May, including steady volumes across its credit categories, it expects results to be

at the high-end of guidance (+8-9% OCC guide for 2Q). International markets have

remained strong and in line with expectations. The company reiterated that it

expects India to continue to improve through the year, supporting +MSD outlook

for FY26.

Tech transformation and AI opportunity

Over the last several years, TRU has undergone a tech transformation, including the

creation of a modern, AI-enabled data management platform OneTru. OneTru

encompasses data & analytics across credit, marketing, and fraud with broader