Stifel Cuts ADP Price Target to $280 as Growth Outlook Remains Modest
Stifel reduced its price target for Automatic Data Processing (ADP) to $280 from $290 while keeping a Hold rating after the company reported fiscal second-quarter 2026 results that modestly beat expectations. ADP posted 5% organic constant currency revenue growth and 11% EPS growth in the quarter, nudging up fiscal 2026 guidance. Margin expansion i…