Alight resumed with a Buy at Citi

Citi resumed coverage of Alight with a Buy rating and $12 price target. The analyst remains bullish on Alight due to its “compelling pathway” to margin expansion through expense base improvements and ongoing scaling of its business process as a service solutions amid a “strong and growing” pipeline. Investor sentiment appears likely to improve near-term as Blackstone’s recent block trade supports liquidity improvements for the stock, the analyst tells investors in a research note. Citi calls Alight its top human resource services pick.