Broadridge price target lowered to $213 from $256 at Morgan Stanley

Morgan Stanley analyst James Faucette lowered the firm’s price target on Broadridge (BR) to $213 from $256 and keeps an Equal Weight rating on the shares. Broadridge delivered “strong” fiscal Q2 results, but the firm believes the multiple likely remains “somewhat handicapped as investors digest the pace of innovation and durability of the business model in a tokenized equity world,” the analyst says in a post-earnings note.