Deutsche Bank analyst Bryan Keane raised the firm’s price target on ADP to $265 from $245 and keeps a Hold rating on the shares following investor meetings with management. The strongest demand ADP is seeing is in the down market which is being boosted by resiliency in new business starts and normalization of bankruptcies, the analyst tells investors in a research note. The firm cites higher peer group valuations and healthy demand for the target bump.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
See Insiders’ Hot Stocks on TipRanks >>
Read More on ADP:
- ADP price target raised to $265 from $255 at Mizuho
- ADP price target raised to $275 from $250 at Argus
- ADP price target raised to $243 from $240 at TD Cowen
- ADP Reports Second Quarter Fiscal 2024 Results
- ADP sees FY24 adjusted EPS growth 10%-12%, consensus $9.12
Questions or Comments about the article? Write to editor@tipranks.com