SS&C shares are trading lower after the company reported worse-than-expected Q2 adjusted EPS results and issued weak guidance for Q3 and FY23. Also, Raymond James maintained a Strong Buy rating on the stock and lowered its price target from $74 to $71.
Portfolio Pulse from Benzinga Newsdesk
SS&C reported worse-than-expected Q2 adjusted EPS results and issued weak guidance for Q3 and FY23. Raymond James maintained a Strong Buy rating on the stock but lowered its price target from $74 to $71.
July 28, 2023 | 3:19 pm
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SS&C's disappointing Q2 results and weak future guidance may negatively impact its stock. Despite this, Raymond James maintains a Strong Buy rating but has lowered its price target.
SS&C's worse-than-expected Q2 results and weak guidance for the future are negative indicators for the stock's performance. However, Raymond James' maintained Strong Buy rating indicates some level of confidence in the company's long-term prospects, despite the lowered price target.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100