Broadridge price target lowered to $257 from $276 at Raymond James

Raymond James analyst Patrick O’Shaughnessy lowered the firm’s price target on Broadridge (BR) to $257 from $276 and keeps an Outperform rating on the shares. The company reported a strong quarter and the secular tailwinds that have driven Broadridge’s long-term revenue and EPS growth are still very much intact, the analyst tells investors in a research note. The firm’s reduced target price reflects a more conservative target multiple given the currently non-falsifiable bear cases around tokenization and AI risk, but the current risk/reward on Broadridge is highly attractive, Raymond James added.