Morgan Stanley raised the firm’s price target on Broadridge to $180 from $175 and keeps an Equal Weight rating on the shares after having attended Broadridge’s 2023 investor day and coming away “encouraged” by consistent three-year objectives that reflect continued strength and the potential for slightly higher growth. The risk-reward “appears balanced,” says the firm, which would look to become more constructive upon faster than expected wealth payback or consistent accretive M&A.
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Read More on BR:
- Broadridge still sees FY24 adjusted EPS growth 8%-12%, consensus $7.70
- Broadridge Highlights Path for Sustainable Long-term Growth at Investor Day 2023
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- Broadridge price target raised to $180 from $164 at DA Davidson
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