Needham raised the firm’s price target on Alight to $13 from $12 and keeps a Buy rating on the shares. The company’s transaction to sell its professional services and HCM/payroll outsourcing businesses to HIG Capital for $1B in cash is positive as it will reduce leverage, improve margins, and simplify the stock’s investment story, the analyst tells investors in a research note.
Confident Investing Starts Here:
- Easily unpack a company's performance with TipRanks' new KPI Data for smart investment decisions
- Receive undervalued, market resilient stocks right to your inbox with TipRanks' Smart Value Newsletter
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
See today’s best-performing stocks on TipRanks >>
Read More on ALIT:
- Alight Divests Units for $1.2B, Eyes Streamlined Growth and Shareholder Value
- 3 Best Stocks to Buy Now, 2/26/2024, According to Top Analysts
- Alight confirms receipt of director nominations from Starboard Value
- Starboard took stake in Alight, nominated four for board, Reuters reports
- Alight sees FY24 adjusted EPS 72c-77c, consensus 73c
Looking for a trading platform? Check out TipRanks' Best Online Brokers , and find the ideal broker for your trades.
Report an Issue