UPDATE: Oppenheimer Terminates Coverage on Broadridge Financial Solutions on Analyst Resources Reallocation

In a report published Monday, Oppenheimer analyst Ian Zaffino terminated coverage on Broadridge Financial Solutions (NYSE: BR).In the report, Zaffino noted, “We are discontinuing research coverage of Broadridge Financial Solutions, previously rated Outperform. All figures included in this report are up-to-date as of our last comment on BR, dated February 8, 2013. The decision is unrelated to any awareness on our part of any material change in the fundamental condition of the company. Were we to continue to cover BR, we would not necessarily consider changing our rating at this time. Rather, our decision to drop coverage is due to a reallocation of analyst resources. Effective with this discontinuation of coverage, our last recommendation issued for this stock should not be relied upon going forward.”Broadridge Financial Solutions closed on Friday at $24.62.