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UPDATE: Stifel Downgrades Automatic Data Processing As Risk/Reward Comes Into Balance

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In a report published Friday, Stifel analyst David Grossman downgraded the rating on Automatic Data Processing (NASDAQ: ADP) from Buy to Hold, and removed the $83.00 price target.

In the report, Stifel noted, “We are downgrading ADP from Buy to Hold and removing it from the Income Opportunity Ideas List. Our core thesis has been that the company's multi-year investment to enhance the HCM platform underlying its core business in tandem with global expansion and an improving rate environment would position this company to sustain its target revenue and EPS growth rates. We believe these efforts are paying off and are now fairly reflected in the current share price, bringing the risk/reward in balance.”

Automatic Data Processing closed on Thursday at $86.06.

Latest Ratings for ADP

DateFirmActionFromTo
Mar 2022B of A SecuritiesUpgradesUnderperformNeutral
Jan 2022Deutsche BankMaintainsHold
Jan 2022Morgan StanleyMaintainsEqual-Weight

View More Analyst Ratings for ADP

View the Latest Analyst Ratings

 

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Posted-In: David Grossman StifelAnalyst Color Downgrades Analyst Ratings

Latest Ratings

StockFirmActionPT
SEDGB of A SecuritiesMaintains411.0
PTLOPiper SandlerMaintains28.0
AOUTLake StreetMaintains26.0
RAPTPiper SandlerMaintains52.0
OCXLake StreetMaintains6.0
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