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ADP price target raised to $310 from $305 at Morgan Stanley

Morgan Stanley raised the firm’s price target on ADP (ADP) to $310 from $305 and keeps an Equal Weight rating on the shares, telling investors that it came away from ADP’s Investor Day “encouraged” by the agentic AI focus, the potential of the Fiserv partnership, and better-than-expected float dynamics. Medium-term targets call for 6%-7% year-over-year revenue growth and 9%-11% year-over-year adjusted EPS growth, the analyst noted.

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