(Sharecast News) - Analysts at Citi downgraded their recommendation for shares of Experian to 'neutral' due to their "cyclical" concerns around its North American business-to-business unit.
Year-on-year declines in housing transactions were expected to result in disappointing organic growth at the company's North American Data business, they explained, due to a combination of disappointment in the mortgage business and lower housing transaction volumes which would drag on demand for other credit.
It wasn't the first time that the investment bank had highlighted the deterioration in housing affordability and the risk of housing transaction volumes falling.
Indeed, in July, existing-home transaction volumes fell by 20.2% in seasonally adjusted terms to an annual rate of 4.81m - the lowest since 4.81m.
Experian (EXPN)
