Broadridge gets 'buy' rating as Needham starts coverage

Broadridge Financial Solutions

06/05/2025 12:52

** Needham starts coverage of fintech firm Broadridge Financial BR.N with a "buy" rating and $300 PT

** Says BR's product suite is extensive, helping customers across the globe process trades and communicate with investors across asset classes

** Brokerage believes BR's consistent margin expansion and "shareholder-friendly" capital allocation strategy makes the shares worthy of a premium valuation

** Needham's PT on BR represents a 29.2% upside to stock's last close

** The vended market for the services BR provides is estimated to be $60 billion, implying ample runway for growth - Needham

** 3 of 9 brokerages rate the stock "buy" or higher and 6 "hold"; median PT $237.17 - data compiled by LSEG

** As of last close, BR stock up 2.7% YTD

(Reporting by Arasu Kannagi Basil in Bengaluru)

((ArasuKannagi.Basil@thomsonreuters.com;))