Piper Sandler upgraded Workday (WDAY) to Neutral from Underweight with a price target of $235, up from $220. The firm sees early signs that Workday’s efforts to increase relevancy in artificial intelligence have accelerated. The company’s organic and inorganic initiatives will likely take time to catalyze a growth rebound, however, the analyst tells investors in a research note. Piper cites the stock’s 15% pullback year-to-date for the upgrade. It sees a balanced risk/reward at current share levels.
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