Canaccord Genuity Raises Price Target on Workday (WDAY) to $110; Reiterates Buy

October 3, 2016 10:30 AM EDT
Get Alerts WDAY Hot Sheet
Price: $70.65 -1.62%

Rating Summary:
    18 Buy, 26 Hold, 3 Sell

Rating Trend: = Flat

Today's Overall Ratings:
    Up: 21 | Down: 36 | New: 11
Trade WDAY Now!
Join SI Premium – FREE

Find out which companies are about to raise their dividend well before the news hits the Street with StreetInsider.com's Dividend Insider Elite. Sign-up for a FREE trial here.

Canaccord Genuity reiterated a Buy rating on Workday (NYSE: WDAY), and raised the price target to $110.00 (from $98.00). Canaccord believes that WDAY has grown into its valuation and that the stock will begin to advance on a sustainable basis.

Analyst Richard Davis commented, "Instead of publishing a post view note along with 3 dozen other analysts, we did a bit of incremental fundamental research before pushing our assessment of Workday out. Our conclusion is that Workday has sufficiently grown into its valuation and that the stock will begin to advance on a sustainable basis, such that we see the stock piercing the $100 level in a middling tape and going perhaps as high as $120 within six months in a more forward looking/bullish environment. Reiterate BUY."

For an analyst ratings summary and ratings history on Workday click here. For more ratings news on Workday click here.

Shares of Workday closed at $91.69 yesterday.



Serious News for Serious Traders! Try StreetInsider.com Premium Free!

You May Also Be Interested In






Related Categories

Analyst Comments, Analyst EPS Change, Analyst PT Change

Related Entities

Canaccord Genuity

Add Your Comment