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Two Firms Raise Price Target for Automatic Data Processing (ADP)
On Wednesday, both Argus and Credit Suisse increased their price targets on payroll outsourcing company, Automatic Data Processing(ADP
).
Argus reported that they have reaffirmed a “Buy” rating on the company and has increased its price target to $68. This price target suggests a 11% upside from the stock’s current price of $60.53.
Credit Suisse reiterated their rating of “Outperform” for ADP, and has raised the company’s price target to $67, suggesting a 9% growth to the stock’s current price.
Automatic Data Processing shares were down 87 cents, or -1.42% during Wednesday morning trading. The stock has increased 9.3% in the past year.
The Bottom Line
Shares of Automatic Data Processing(ADP) have a 2.87% yield, based on Wednesday morning’s price of $60.53.
Automatic Data Processing(ADP) is not recommended at this time, holding a Dividend.com DARS™ Rating of 3.4 out of 5 stars.
Be sure to visit our complete recommended list of the Best Dividend Stocks, as well as a detailed explanation of our ratings system here.
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