Stifel Adjusts Automatic Data Processing (ADP) Price Target, Keeps Neutral Stance

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Stifel analyst David Grossman has lowered the price target for Automatic Data Processing (ADP) to $270 from $280, while maintaining a Hold rating. Despite the lower target, he considers ADP’s valuation to offer a “compelling risk/reward” due to its stable business model and consistent growth. ADP’s CEO Maria Black reported solid Q2 2026 results, with revenue up 6%, adjusted EBIT margin expanding, and client satisfaction reaching record highs.

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