Broadridge price target lowered to $230 from $255 at Needham

Needham lowered the firm’s price target on Broadridge (BR) to $230 from $255 and keeps a Buy rating on the shares. The company reported Q2 results that beat estimates, driven by solid organic growth in recent M&A, but the closed sales outlook was lowered, which is expected to weigh on near-term investor sentiment, the analyst tells investors in a research note.