ADP price target raised to $260 from $250 at Jefferies

Jefferies raised the firm’s price target on ADP to $260 from $250 and keeps a Hold rating on the shares. The company posted a “modest” revenue beat driven by PEO and Float, the analyst tells investors in a research note. The firm added that it sees results as enough to buoy shares, but unlikely to drive them much higher given the valuation.