Dayforce price target raised to $95 from $85 at Mizuho

Mizuho analyst Siti Panigrahi raised the firm’s price target on Dayforce (DAY) to $95 from $85 and keeps an Outperform rating on the shares. The company at its investor day introduced $5B revenue and $1B free cash flow targets for fiscal 2031, the analyst tells investors in a research note. The firm says Dayforce is driving growth through new customer acquisition, cross-selling with the Dayforce platform, including managed services, moving up-market, and expanding internationally. It walked away from the event with more confidence in the company’s durable growth model as well as its ability to improve its free cash flow generation.