Alight resumed with a Buy at Citi

Citi resumed coverage of Alight with a Buy rating and $12 price target following Blackstone’s second block trade since December 2023. Little has changed in Citi’s bullish thesis on Alight given its compelling “self-help” narrative among a slowing job backdrop, the analyst tells investors in a research note. The firm says the two recent block trades from Blackstone are a positive for investor sentiment as it notably improves liquidity for the stock.