Equifax (EFX) faces a softer outlook for mortgage revenue as 30-year fixed rates remain well above 7% and continue to depress loan volumes, BofA Securities said Tuesday in a report.

BofA trimmed its Q3 forecast to adjusted EPS of $2.22 on revenue of $1.69 billion, down from EPS of $2.25 on revenue of $1.70 billion estimated previously.

Investors will watch the potential impact of bi-merge adoption on mortgage revenue, look for an updated outlook for government-services revenue, and monitor whether Equifax cuts its 2026 guidance, which is "largely expected," BofA said.

Q3 results are expected Oct. 20.

BofA lowered its price target on Equifax stock to $200 from $210 and maintained its buy rating.

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