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Broadridge removed from ‘Tactical Outperform’ list at Evercore ISI

Evercore ISI is removing Broadridge (BR) from the firm’s “Tactical Outperform” list following the company’s Q2 earnings report Thursday morning as the firm’s call had been predicated on the company pointing toward the top half of its FY24 EPS growth guidance range of 8%-12% as the Trian-Disney (DIS) proxy contest intensified. Management maintained guidance of 8%-12% EPS growth for FY24, notes the firm, which expects 12% adjusted EPS growth compared to consensus at 10%. Broadridge remains Outperform-rated and a Top #5 Pick for this year with a $230 price target, the analyst added.

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