Alight price target lowered to $3 from $5 at DA Davidson

DA Davidson lowered the firm’s price target on Alight (ALIT) to $3 from $5 and keeps a Buy rating on the shares. The firm cites the company’s Q4 adjusted EBITDA coming in “notably below” its forecasts, and in In the absence of full year guidance, DA Davidson has assumed that the difficult trends expected in Q1 will continue for most of the year, the analyst tells investors in a research note.