ADP price target lowered to $244 from $306 at Cantor Fitzgerald

Cantor Fitzgerald lowered the firm’s price target on ADP (ADP) to $244 from $306 and keeps an Overweight rating on the shares. Despite concerns about a broader macro slowdown, recent bank results and company commentary suggest consumer spending remains relatively stable, the analyst tells investors in a research note. While thematic headwinds have pressured the sector, these risks appear overstated, and Q1 estimates look largely achievable, with forward guidance and Middle East developments likely acting as the main catalysts, the firm says.