Donnelley Financial Solutions price target lowered to $57 from $72 at Needham

Needham lowered the firm’s price target on Donnelley Financial Solutions (DFIN) to $57 from $72 and keeps a Buy rating on the shares. The company reported solid Q3results, beating Street estimates on the top and bottom line, largely due to stronger capital markets activity which lifted tech-enabled services and Active Disclosure revenue during the quarter, but its Q4 guide was below consensus, which reflects a cautious outlook on capital markets activity due to ongoing impacts from the government shutdown, the analyst tells investors in a research note.