Baird analyst Mark Macon raised the firm’s price target on ADP to $270 from $235 and keeps a Neutral rating on the shares. The firm said they are incrementally positive on ADP as the company showed fundamental improvement on the most important metrics including stellar bookings and retention to end the year. Guidance is above consensus, yet contains conservative elements.
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Read More on ADP:
- ADP price target raised to $260 from $240 at Jefferies
- ADP Stock Posts Strong Gains after Solid Earnings Report
- ADP sees FY24 adjusted diluted EPS growth of 10%-12%
- ADP Reports Fourth Quarter and Fiscal 2023 Results
- ADP reports Q4 adjusted EPS $1.89, consensus $1.83
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