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Fly News Breaks for June 13, 2018
ADP
Jun 13, 2018 | 09:15 EDT
BMO Capital analyst Jeffrey Silber raised his price target on ADP to $138 after the company offered updated financial targets through FY21 at its investor call. Silber points to the raised EPS growth rate projections of 16%-19% being driven by accelerated margin expansion, adding that the campaign by activist investor Pershing Square has had some influence in the company's transformation. The analyst also keeps his Market Perform rating on ADP.
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