Cantor Fitzgerald analyst Ramsey El-Assal initiated coverage of ADP (ADP) with an Overweight rating and $306 price target The stock’s valuation implies a “full-blown recession already baked in”, but the Street is ignoring the company’s enterprise moat as well as its market share gains, the analyst tells investors in a research note.
Claim 55% Off TipRanks
- Unlock hedge fund-level data and powerful investing tools for smarter, sharper decisions
- Discover top-performing stock ideas and upgrade to a portfolio of market leaders with Smart Investor Picks
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on ADP:
- ADP initiated with an Overweight at Cantor Fitzgerald
- ADP Earnings Report this Week: Is It a Buy, Ahead of Earnings?
- ADP: Limited Upside Amid Weakening SMB Employment and Macro-Driven Multiple Compression Supports Sell Rating
- ADP announces $6B share repurchase authorization
- ADP downgraded to Underperform from Hold at Jefferies