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Investing.com - DA Davidson has reiterated its Neutral rating and $220.00 price target on Broadridge Financial (NYSE:BR), which currently trades at $241.45, near its 52-week high of $247.01. According to InvestingPro analysis, the stock appears to be trading above its Fair Value, with a market capitalization of $28.36 billion.
The research firm maintained its stance following Broadridge’s announcement of an agreement to acquire Acolin, a European provider of cross-border fund distribution and regulatory services.
Financial details of the acquisition were not disclosed in the announcement.
According to DA Davidson, the transaction is not expected to have a material impact on Broadridge’s financial results.
The $220 price target remains unchanged following the acquisition news.
In other recent news, Broadridge Financial has announced its acquisition of Acolin, a European provider of cross-border fund distribution and regulatory services. This move aims to enhance Broadridge’s fund distribution capabilities across Europe, though financial details were not disclosed. RBC Capital Markets has maintained an Outperform rating for Broadridge, with a price target of $259, citing the company’s strong financial performance and successful launch of a new Wealth Management platform. RBC analysts believe Broadridge’s financial outcomes will remain stable despite macroeconomic uncertainties. Meanwhile, Needham has initiated coverage on Broadridge with a Buy rating and a $300 price target, highlighting the company’s comprehensive product suite and shareholder-friendly capital allocation strategy. Needham’s analysts emphasize Broadridge’s potential for organic growth and margin expansion. DA Davidson has reiterated its Neutral rating on Broadridge, maintaining a $220 price target and noting that the Acolin acquisition is not expected to significantly impact fiscal 2026 forecasts. Broadridge concluded its fiscal third quarter with $0.32 billion in cash and $3.43 billion in debt, reflecting a net leverage ratio of approximately 2.0 times trailing adjusted EBITDA.
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