Analyst Kyle Peterson from Needham reiterated a Buy rating on Broadridge Financial Solutions and keeping the price target at $305.00.
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Kyle Peterson has given his Buy rating due to a combination of factors that highlight Broadridge Financial Solutions’ strong performance and strategic initiatives. The company’s recent quarterly results surpassed market expectations, driven by increased event-driven revenue, successful mergers and acquisitions, and ongoing share buyback activities. These elements contributed to a robust financial quarter, reinforcing confidence in the company’s ability to maintain a high level of recurring revenue growth.
Additionally, Broadridge’s strategic acquisition of an 8% stake in Tharimmune offers promising exposure to the digital asset space, particularly through the Canton Coin. The company’s consistent earnings per share growth and its commitment to returning capital to shareholders through dividends and buybacks further bolster its investment appeal. When considering the company’s valuation, which is reasonable compared to its information services peers, these factors collectively support the Buy rating and the $305 target price set by Kyle Peterson.
Peterson covers the Technology sector, focusing on stocks such as Alight, Donnelley Financial Solutions, and Broadridge Financial Solutions. According to TipRanks, Peterson has an average return of 2.2% and a 40.85% success rate on recommended stocks.