Workday price target raised to $250 from $240 at Wells Fargo

Wells Fargo analyst Michael Turrin raised the firm’s price target on Workday to $250 from $240 and keeps an Overweight rating on the shares. The firm notes Workday’s Q4 print was mostly clean and says it sees signs a conservative lens was used in framing 2024. Wells thinks the combo of steady growth, margin expansion, and current multiples stands out favorably.