Workday price target raised to $169 from $142 at Guggenheim

Guggenheim analyst John DiFucci raised the firm’s price target on Workday to $169 from $142 and keeps a Sell rating on the shares. Workday “reported decent results at a time when that is not the norm,” and Workday is “a well-run company providing significant value to its customer base,” but the firm continues to rate the shares as a Sell as it sees risk in future estimates and sees a persistent R&D expense that will suppress free cash flow margins over the very long term, the analyst tells investors.