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Alight price target lowered to $7 from $10 at DA Davidson

DA Davidson lowered the firm’s price target on Alight (ALIT) to $7 from $10 and keeps a Buy rating on the shares. The firm notes Alight reported Q2 results with total revenue and adjusted EBITDA 1% and 7% above its forecasts, respectively. Unfortunately, management lowered their total revenue guidance for 2025 due to delayed closing on new deals and a continuation of lower non-recurring project revenue, DA Davidson adds. Following the update, the firm has trimmed its 2025 to 2027 forecasts. DA Davidson views 2025 as a transition year when the team needs to reset expectations and start to re-build their track record of delivering solid quarterly results.

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