Workday initiated with a Neutral at Rosenblatt

Rosenblatt initiated coverage of Workday (WDAY) with a Neutral rating and $235 price target The firm believes the company will continue to see solid growth in its core U.S. human capital management business while driving margins higher. Workday’s growth path likely to continue to decelerate, but offset by the increasing earnings power, the analyst tells investors in a research note. Rosenblatt seeks a better entry point into the name.