Ceridian price target raised to $86 from $78 at Baird

Baird analyst Mark Marcon raised the firm’s price target on Ceridian to $86 from $78 and keeps an Outperform rating on the shares. The analyst noted Q4 results exceeded expectations with impressive wins with multinational enterprises a key highlight. Baird said the above-consensus guidance was aided in part by accounting changes but would have exceeded prior guidance even without changes.