Workday price target raised to $275 from $250 at Jefferies

Jefferies analyst Brent Thill raised the firm’s price target on Workday to $275 from $250 and keeps a Buy rating on the shares. The company’s partners are seeing an improving demand environment sequentially, the analyst tells investors in a research note. The three partners the firm met with highlighted strong top of the funnel activity supporting their confidence in growth expectations in the second half of 2023, says Jefferies. It believes Street estimates for 20% growth “seem reasonable given the solid demand.”