JP Morgan Maintains Underweight on Automatic Data Processing, Lowers Price Target to $250
Portfolio Pulse from Benzinga Newsdesk
JP Morgan analyst Tien-Tsin Huang maintains an Underweight rating on Automatic Data Processing (ADP) and lowers the price target from $254 to $250.
May 02, 2024 | 4:11 pm
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JP Morgan has maintained its Underweight rating on Automatic Data Processing and reduced the price target from $254 to $250.
The reduction in price target by JP Morgan, a major financial institution, could lead to a negative perception among investors regarding ADP's future stock performance. This adjustment reflects a less optimistic outlook on the company's valuation, potentially influencing short-term stock price movement negatively.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100