Donnelley Financial rises after D.A. Davidson upgrades to 'buy'

Donnelley Financial Solutions

12/04/2024 19:30

** Shares of financial compliance company Donnelley
Financial Solutions  DFIN.N  rise as much as 3.5%, last up 3.1%
at $61.77
    ** D.A. Davidson upgrades DFIN to "buy" from "neutral";
raises PT to $72 from $60, a 20.2% upside to the last close 
    ** Brokerage says DFIN is well-positioned to resume
generating growth in total revenue after two years of declines
    ** DFIN revenue declines were primarily driven by the
moderation in capital markets transactional activity after the
boom years in 2020-2021 - D.A. Davidson 
    ** Brokerage notes that with several $1 bln plus IPOs on the
early April docket, it is cautiously optimistic that
transactional revenue can be a tailwind for the entire year
    ** All four brokerages covering the stock rate it "buy";
their median PT is $69 - LSEG data
    ** DFIN shares down 1.2% YTD

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