UPDATE: BTIG Upgrades Broadridge Financial (BR) to Buy
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(Updated - February 3, 2021 5:50 AM EST)
BTIG analyst Mark Palmer upgraded Broadridge Financial (NYSE: BR) from Neutral to Buy, PT $176.00.
The analyst comments "Our renewed bullishness on BR shares was spurred in part by the strong 2Q21 report that the company released yesterday, which featured top- and bottom-line beats versus consensus estimates, with management guiding to FY21 results at the higher ends of their previous guidance ranges. Particularly encouraging was the balanced contributions that BR demonstrated across its franchise, as strong stock record growth drove a 7% increase in its Investor Communication Solutions (ICS) recurring revenues, while higher trading volumes paced an 8% increase in its Global Technology and Operations (GTO) recurring revenues."
Shares of Broadridge Financial closed at $146.50 yesterday.
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