Alight price target lowered to $9 from $11 at Wedbush

Wedbush lowered the firm’s price target on Alight (ALIT) to $9 from $11 and keeps an Outperform rating on the shares. The firm notes Alight reported its Q1 2025 results, which were a strong start to the year with a beat on the top-line while meeting Street expectations on the bottom-line as the company’s recurring revenue streams continue picking up traction across its customers base with its client-centric focus resonating well and leading to new and expanded wins. While noting a more difficult macro backdrop that may elongate client decision-making, Wedbush believes Alight remains well-positioned to deliver necessary solutions for clients to drive down costs across operations, while taking strategic steps towards its mid-term targets.