Argus raised the firm’s price target on ADP to $275 from $250 and keeps a Buy rating on the shares after its Q2 earnings beat. The company offers a clean balance sheet and an experienced management team – two factors that are important in the current economic environment, the analyst tells investors in a research note. Valuations are reasonable for ADP, and the company has rewarded investors over time with consistent results and market-beating returns, the firm added.
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Read More on ADP:
- ADP Reports Second Quarter Fiscal 2024 Results
- ADP sees FY24 adjusted EPS growth 10%-12%, consensus $9.12
- ADP reports Q2 adjusted EPS $2.13, consensus $2.10
- Notable companies reporting before tomorrow’s open
- ADP Earnings this Week: How Will it Perform?
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