Cantor Fitzgerald Starts Coverage on ADP, Assigns Overweight and $306 Target
Cantor Fitzgerald initiated coverage of Automatic Data Processing (ADP) with an Overweight rating and a $306 price target, implying roughly 18.5% upside from a reference price of $258.17. The firm highlighted ADP's strategic transition from legacy payroll processing into human capital management (HCM) and professional employer organization (PEO) of…