Workday price target raised to $245 from $240 at JPMorgan

JPMorgan analyst Mark Murphy raised the firm’s price target on Workday to $245 from $240 and keeps an Overweight rating on the shares. The company reported another quarter of “healthy execution” with subscription revenue growth showing much less deceleration versus peers in the enterprise software landscape, coupled with meaningful free cash flow outperformance, the analyst tells investors in a research note. The firm remains “impressed by the resiliency” in Workday’s core business given the current environment.