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Morgan Stanley Reiterates Equal-Weight, Raises Price Target On CDK Global Awaiting More Clarity

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In a report published Friday, Morgan Stanley analyst Brian Essex reiterated an Equal-Weight rating on CDK Global (NASDAQ: CDK), and raised the price target from $42.00 to $45.00.

In the report, Morgan Stanley noted, "With management now actively pursuing engagement of a consulting firm, we expect a higher level of multiple support as investors anticipate that operational review could lead to a better long-term margin profile. Remain EW until we get more clarity, but raising TP to $45."

CDK Global closed on Thursday at $47.36.

Latest Ratings for CDK

DateFirmActionFromTo
Aug 2020Morgan StanleyMaintainsOverweight
Jun 2020Morgan StanleyUpgradesEqual-WeightOverweight
May 2020Morgan StanleyMaintainsEqual-Weight

View More Analyst Ratings for CDK
View the Latest Analyst Ratings

 

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Posted-In: Brian Essex Morgan StanleyAnalyst Color Price Target Analyst Ratings

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