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ADP

ADP

$164.35

-4.15 (-2.46%)

06:22
09/11/19
09/11
06:22
09/11/19
06:22

ADP initiated with an Outperform at Cowen

Cowen analyst Bryan Bergin initiated ADP with Target $195, saying the "scale & sustainability" of its transformation are not fully valued. The analyst cites the "secular" growth in the human capital management industry, along with the company's continued margin expansion and material flexibility creating "multiple paths" for stock price upside. Bergin adds that ADP's product advancements should allow the company to "re-establish" its technology leadership.

ADP ADP
$164.35

-4.15 (-2.46%)

04/30/19
04/30/19
DOWNGRADE

Fly Intel: Top five analyst downgrades
Catch up on today's top five analyst downgrades with this list compiled by The Fly: 1. Alphabet (GOOG, GOOGL) downgraded to Hold from Buy at Stifel with analyst Scott Devitt saying Alphabet revenue growth in last night's Q1 results dropped below 20% for the first time since Q2 of 2015. 2. Bank of America (BAC) downgraded to Neutral from Overweight at Atlantic Equities. 3. Trade Desk (TTD) downgraded to Market Perform from Outperform at JMP Securities with analyst Ronald Josey saying he believes shares are currently fairly valued given the company's growth and opportunities in mobile and Connected TV. 4. ADP (ADP) downgraded to Market Perform from Outperform at Bernstein while Paychex (PAYX) was downgraded to Underperform from Market Perform. 5. Trex Company (TREX) downgraded to Neutral from Buy at B. Riley FBR with analyst Alex Rygiel citing near-term profit margin pressures. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
07/11/19
07/11/19
DOWNGRADE
Target $83

Underperform
ManpowerGroup downgraded to Underperform at Credit Suisse
As previously reported, Credit Suisse analyst Kevin McVeigh downgraded ManpowerGroup to Underperform from Neutral and lowered his price target on the shares to $83 from $88. The analyst notes that valuation has expanded about 4 times, but European macro has deteriorated amid a continued ManpowerGroup rally and underwhelming results from European temp/perm placement companies Robert Walters/Page Group. Further, McVeigh recommends investors use the recent "Powell put" rally to monetize the ManpowerGroup stock and use proceeds to rotate into ADP (ADP).
07/31/19
JEFF
07/31/19
NO CHANGE
Target $176
JEFF
Hold
ADP price target raised to $176 from $167 at Jefferies
Jefferies analyst Samad Samana raised his price target on ADP to $176, saying its Q3 revenues came in line with expectations but margins beat consensus. The analyst adds that the top line benefited from sales related to the acquisition of a client list by the company and bookings were also strong. Samana keeps his Hold rating on ADP.
08/15/19
MSCO
08/15/19
DOWNGRADE
Target $74
MSCO
Underweight
Paychex cut to Underweight at Morgan Stanley on SMID business weakening
Morgan Stanley analyst Steven Wald downgraded Paychex (PAYX) to Underweight from Equal Weight and lowered his price target for the shares to $74 from $77 as he assumed lead coverage of the stock and ADP (ADP). Small-to-mid-sized business employment is weakening and Paychex's revenue is 94% correlated to small business employment, explained Wald. Additionally, Paychex shares remain expensive compared to its Payments peers based on his EPS, revenue and margin estimates, the analyst said. Wald maintained an Equal Weight rating on ADP upon assuming coverage, setting a $174 price target on the stock, up from the firm's prior $150 target. At current levels, the market is sufficiently balancing ADP's relatively defensive market position from serving a wider array of clients than Paychex against the cyclical risks to growth if employment conditions broadly worsen, said Wald.

TODAY'S FREE FLY STORIES

ORCL

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-0.64 (-1.19%)

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ORCL

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$53.12

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ACRS

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KHC

Kraft Heinz

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0.37 (1.27%)

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KHC

Kraft Heinz

$29.62

0.37 (1.27%)

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HMSY

HMS Holdings

$37.14

0.24 (0.65%)

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ICAD

iCAD

$6.89

-0.01 (-0.14%)

18:25
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iCAD to hold an investor reception »

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  • 16

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GLW

Corning

$30.04

-0.12 (-0.40%)

18:18
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Corning down 5.5% or $1.64 at $28.40 per share after cutting volume outlook »

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WE

We Company

$0.00

(0.00%)

18:17
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Periodicals
We Company IPO delayed until October at earliest, WSJ reports »

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GLW

Corning

$30.04

-0.12 (-0.40%)

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WE

We Company

$0.00

(0.00%)

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Breaking Periodicals news story on We Company »

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GM

General Motors

$37.21

-1.62 (-4.17%)

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Auto workers strike could cost GM $100M daily, WSJ says »

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HLNE

Hamilton Lane

$59.95

-0.51 (-0.84%)

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Hamilton Lane vice chairman sells 150K shares of common stock »

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Hamilton Lane

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GD

General Dynamics

$190.91

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PSN

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  • 27

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T

AT&T

$37.32

-0.58 (-1.53%)

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  • 23

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UBER

Uber

$34.42

1.18 (3.55%)

, LYFT

Lyft

$47.78

1.68 (3.64%)

17:39
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Uber to limit drivers' app access in NYC to comply with rules, Reuters says »

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UBER

Uber

$34.42

1.18 (3.55%)

LYFT

Lyft

$47.78

1.68 (3.64%)

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NEE

NextEra Energy

$218.31

-0.19 (-0.09%)

17:36
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Conference/Events
NextEra Energy management to meet with UBS »

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NJR

New Jersey Resources

$44.80

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MEGEF

MEG Energy

$0.00

(0.00%)

17:34
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Conference/Events
MEG Energy management to meet with UBS »

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  • 18

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KMI

Kinder Morgan

$20.67

0.2 (0.98%)

17:33
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Conference/Events
Kinder Morgan management to meet with UBS »

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  • 18

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DOW

Dow Inc.

$48.98

0.79 (1.64%)

17:31
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Conference/Events
Dow Inc. management to meet with UBS »

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