Alight price target lowered to $11 from $12 at KeyBanc

KeyBanc analyst Scott Schoenhaus lowered the firm’s price target on Alight to $11 from $12 and keeps an Overweight rating on the shares. The firm views the sharp reaction in the stock as an attractive entry point post Alight’s headline top-line miss driven mostly by weaker project-based business, which the company is in the process of divesting, allowing it to focus on higher-margin, recurring revenue streams post the sale.