ADP price target raised to $216 from $208 at TD Cowen

TD Cowen analyst Bryan Bergin raised the firm’s price target on ADP (ADP) to $216 from $208 and keeps a Hold rating on the shares. The firm said they delivered a solid 3Q beat and raise amid weak HCM sector sentiment, driving a relief rally. Execution was strong and stability was conveyed. From here, expectations for initial FY27 growth guide is the primary driver to sentiment.