Broadridge price target raised to $222 from $207 at Morgan Stanley

Morgan Stanley raised the firm’s price target on Broadridge (BR) to $222 from $207 and keeps an Equal Weight rating on the shares. Following a slight fiscal Q2 beat and FY25 outlook reaffirmation, the analyst says the outlook reiteration will “spark debate,” but adds that the macro and demand backdrop remains favorable while stating that buybacks “still aren’t in estimates.”