In a report released today, Kyle Peterson from Needham reiterated a Buy rating on Alight (ALIT – Research Report), with a price target of $9.00.
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Kyle Peterson has given his Buy rating due to a combination of factors that were highlighted during Alight’s recent investor day in Chicago. The event was a platform for the current leadership team to demonstrate their dedication to transparency and strengthening client relationships, which are crucial for the company’s growth.
Moreover, Alight presented updated medium-term financial targets that align well with market expectations while also being ambitious enough to satisfy investors. The company’s discounted valuation further supports the positive outlook, prompting a reiteration of the Buy rating with a target price of $9.
According to TipRanks, Peterson is a 3-star analyst with an average return of 2.5% and a 43.79% success rate. Peterson covers the Technology sector, focusing on stocks such as Alight, Affirm Holdings, and Fair Isaac.