Canaccord starts Alight with Buy on ‘compelling’ platform

Canaccord initiated coverage of Alight with a Buy rating and $12 price target. The analyst views digitally transformed, holistic employee benefits management to be both a large total addressable market while also being less competitive versus other function-defined markets of the enterprise. The firm believes Alight and its Worklife platform is “compelling and differentiated” in the employee benefits management marketplace.