JP Morgan Maintains Underweight on Automatic Data Processing, Raises Price Target to $280
Portfolio Pulse from Benzinga Newsdesk
JP Morgan analyst Tien-Tsin Huang maintains an Underweight rating on Automatic Data Processing (ADP) and raises the price target from $260 to $280.
August 22, 2023 | 12:15 pm
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NEGATIVE IMPACT
JP Morgan maintains an Underweight rating on ADP and raises the price target to $280.
The Underweight rating maintained by JP Morgan suggests that the firm believes ADP's stock may underperform compared to other stocks. However, the raised price target indicates an expected increase in the stock's value. The impact is likely to be negative in the short term due to the Underweight rating, but the raised price target suggests potential for growth in the long term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100