Jefferies lowered the firm’s price target on ADP (ADP) to $245 from $315 and keeps a Hold rating on the shares. ADP delivered “solid results” in fiscal Q1, including better-than-consensus 7.1% revenue growth and 6.7% EPS growth, but the firm thinks the stock will struggle to maintain a premium multiple with the path ahead “looking tougher.”
TipRanks Cyber Monday Sale
- Claim 60% off TipRanks Premium for data-backed insights and research tools you need to invest with confidence.
- Subscribe to TipRanks' Smart Investor Picks and see our data in action through our high-performing model portfolio - now also 60% off
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on ADP: