Broadridge initiated with a Buy at Needham

Needham initiated coverage of Broadridge (BR) with a Buy rating and $300 price target Broadridge is a provider of critical technology operations and communications services, the analyst tells investors in a research note. The firm believes the company’s product suite is “extensive, helping customers across the globe process trades and communicate with investors across asset classes.” Broadridge’s focus on expanding its product offerings as well as a steady increase in investment positions by clients has created a positive secular tailwind to drive organic growth, contends Needham.