JP Morgan Maintains Overweight on Broadridge

JP Morgan reiterates its Overweight rating on Broadridge BR as the company presents in-line 4Q EPS despite lighter revenues. JP Morgan notes, "Adjusted EPS of $0.12 was in line with JPMe/Street despite weaker than expected revenue growth. Revenue guidance was trimmed to reflect lower than expected event driven revenues with adj. EPS guidance reaffirmed (GAAP down for the Penson charge). Tone on event driven fees seems weaker - says $1.80 in EPS achievable for FY13, but $2.00 doable if event driven fees return to normal." BR closed at $24.46 a share on Broadridge.