Donnelley Financial Solutions (DFIN) PT Raised to $60 at Needham

Needham analyst Kyle Peterson raised the price target on Donnelley Financial Solutions (NYSE: DFIN) to $60.00 (from $57.00) while maintaining a Buy rating.

The analyst comments "DFIN's 2Q results beat the Street on the top and bottom line, with the upside mostly coming from a rebound in capital markets activity which drove better tech services and Active Disclosure revenue. While the 3Q outlook bracketed consensus, we believe investors remain concerned about AI disruption risks across the entire business and information services group and continue to await better growth within the Venue and Arc Suite business lines. While fair, we expect growth will bounce back as investments increase under the newly appointed Chief Revenue Officer Ken Napolitano, who was specifically brought in to improve growth and deepen relationships with both new and existing customers. We are reiterating our BUY rating and raising our target to $60."

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