Workday assumed with an Overweight at KeyBanc

KeyBanc assumed coverage of Workday with an Overweight rating and $310 price target. The analyst believes the company is well positioned to continue driving share gains in human capital management and financials against legacy and point solution vendors as cloud adoption and consolidation trends continue. The firm also believes Workday’s international expansion provides an incremental growth driver to the company’s “durable growth story.”