ADP price target raised to $290 from $285 at TD Cowen

TD Cowen analyst Bryan Bergin raised the firm’s price target on ADP (ADP) to $290 from $285 and keeps a Hold rating on the shares as part of a Q4 preview for the human capital management space. Recent share outperformance across most of the sector and some instances of consensus estimates being at risk “yield a fairly high bar for this earnings season, leading us to favor the cleanest setups,” the analyst tells investors in a research note. TD’s most favorable on the Q4 setup for Paylocity (PCTY) and most cautious on the setup for TriNet (TNET).