DA Davidson analyst Peter Heckmann raised the PT to $40 and reiterated a Buy rating and $40.00 price target on Alight Solutions (NYSE: ALIT).

The analyst commented, "We have updated our share count and price target following Alight’s 1-for-20 reverse stock split (including Class A, B and V) that was effective after the market close on Tuesday, June 30th. We are maintaining our BUY rating on Alight and adjusting our price target to $40 (from $2) due to the reverse stock split."

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Shares of Alight Solutions closed at $13.73 yesterday.