Alight downgraded to Neutral from Overweight at JPMorgan

JPMorgan analyst Tien-tsin Huang downgraded Alight to Neutral from Overweight with an unchanged price target of $8. While the stock is cheap on an adjusted basis, it is less so on a GAAP basis, and given recent transformation plus CEO transition, JPMorgan prefers a sideline view, the analyst tells investors in a research note. The firm says stock re-rating may be harder to earn until a track record under new leadership is established.