ADP price target raised to $275 from $250 at Argus

Argus raised the firm’s price target on ADP to $275 from $250 and keeps a Buy rating on the shares after its Q2 earnings beat. The company offers a clean balance sheet and an experienced management team – two factors that are important in the current economic environment, the analyst tells investors in a research note. Valuations are reasonable for ADP, and the company has rewarded investors over time with consistent results and market-beating returns, the firm added.