Dayforce price target raised to $92 from $80 at KeyBanc

KeyBanc raised the firm’s price target on Dayforce (DAY) to $92 from $80 and keeps an Overweight rating on the shares after attending the company’s investor day in Las Vegas, which was a financials-focused event, as anticipated. While Dayforce unveiled a more mixed MT Dayforce recurring revenue growth outlook of “upperto-mid teens,” a slight downtick from expectations for “high teens,” Keybanc is encouraged by the company’s continued commitment to driving margin expansion as it marches toward its long-term free cash flow goal of $1B. Net, the firm comes away from the event constructive on the increased focus on profitability.