Alight price target lowered to $10 from $12 at Wedbush

Wedbush lowered the firm’s price target on Alight to $10 from $12 and keeps an Outperform rating on the shares. The firm notes Alight reported its Q2 results, which were a mixed bag following the completion of selling its Payroll and Professional Services business for $1.2B. However, the biggest news was that Alight announced Stephan Scholl will step down as CEO and member of the Board, effective after the Board names a successor, Wedbush adds.