Alight price target lowered to $11 from $13 at Canaccord

Canaccord lowered the firm’s price target on Alight to $11 from $13 and keeps a Buy rating on the shares. The firm said its Q2 results saw solid ARR growth, and perhaps more importantly, this key bookings metric is set to accelerate in H2. With the divestiture of the payroll and IT services business now in the rearview mirror, the Alight team is solely focused on growing ARR.