Societe Generale downgraded Workday to Hold from Buy with a price target of $205, down from $212. While the firm still likes Workday’s fundamentals, including a strong backlog that underpins future revenue growth and margin improvement, it is "shading down" its FY24 revenue forecasts following the company’s Q4 report and the twelve month expected return is now below the firm’s threshold for a Buy rating.
Published first on TheFly
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- Workday downgraded to Hold from Buy at Societe Generale
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