ADP price target raised to $315 from $267 at RBC Capital

RBC Capital analyst Ashish Sabadra raised the firm’s price target on ADP (ADP) to $315 from $267 and keeps a Sector Perform rating on the shares. The company’s Q1 earnings beat was “solid” while its FY25 revenue guidance raise was driven by strong fundamentals and WorkForce Software acquisition tracking better than expected, the analyst tells investors in a research note. ADP’s guidance appears achievable and highlights low-teens TSR, or Total Shareholder Return, even in a challenging macro, RBC added.