Broadridge assumed with a Peer Perform at Wolfe Research

Wolfe Research analyst Scott Wurtzel assumed coverage of Broadridge (BR) with a Peer Perform rating and no price target The firm finds Broadridge to be a “good fit” in its Business and Information Services coverage given its exposure to capital markets/financial services and recurring revenue profile, adding that it believes that the continued democratization of investing will help support recurring revenue growth. The analyst sees a fair value range of $240-$260 for the shares.