Dayforce price target raised to $85 from $80 at Mizuho

Mizuho raised the firm’s price target on Dayforce (DAY) to $85 from $80 and keeps an Outperform rating on the shares. Dayforce exceeded Q3 expectations, primarily driven by float and professional services revenue, the analyst tells investors in a research note. While the firm expects to hear more about Dayforce’s mid-term targets and growth and profitability drivers at the November 12 investor day, which may be a catalyst for the shares, its preliminary guidance should appease investors concerned about free cash flow generation, Mizuho says.