Morgan Stanley Remains Confident In Automatic Data Processing Following Management Meeting
In a report published Thursday, Morgan Stanley analyst Smittipon Srethapramote reiterated an Equal-Weight rating on Automatic Data Processing (NASDAQ: ADP).
In the report, Morgan Stanley noted, “We hosted a lunch with ADP CFO Jan Siegmund and EVP of Worldwide Sales and Marketing Ed Flynn. Our key takeaways: ADP is confident that recently enhanced R&D has made its products more competitive with SaaS players; and the ACA is providing tailwinds with clients big and small.”
Automatic Data Processing closed on Wednesday at $78.83.
Latest Ratings for ADP
|Dec 2016||Barclays||Initiates Coverage On||Overweight|
|Sep 2016||Wedbush||Initiates Coverage on||Neutral|
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