Broadridge Financial gets 'neutral' rating as UBS starts coverage

Broadridge Financial Solutions

21/11/2024 16:44

** UBS Securities starts coverage of fintech firm Broadridge
Financial  BR.N  with "neutral" rating and $250 PT, a 10.9%
upside to stock's last close
    ** Company well positioned to deliver consistent mid- to
high-single-digits pct recurring revenue growth in medium term,
given complexities in investment market and broader trend of
financial firms increasingly outsourcing their technology
operations - brokerage
    ** UBS expects Broadridge to look for additional deals to
strength existing business offerings or gain new capabilities
    ** 3 of 9 brokerages rate the stock "buy" and 6 "hold";
median PT $231 - LSEG
    ** As of last close, Broadridge shares up 9.5% YTD

(Reporting by Arasu Kannagi Basil in Bengaluru)
((ArasuKannagi.Basil@thomsonreuters.com))