RBC Capital raised the firm’s price target on Broadridge to $190 from $169 and keeps an Outperform rating on the shares after its Q4 earnings beat. Closed sales were disappointing for the quarter, down 19% y/y and 20% relative to original expectations, but the weakness appears isolated to Europe, the analyst tells investors in a research note. 2024 should produce a “cleaner story”, the firm adds.
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