ALIT - Alight up 3% as Citi Research initiates Buy/High risk rating TP at $12
2023-06-13 08:27:06 ET
Citi Research initiates a Buy/High Risk rating for Alight ( NYSE: ALIT ) and stock is seen rising 3% during pre-market on Tuesday.
It points to the company as a secular winner for benefiting from the rapid modernization of HCM solutions more broadly, and also via its differentiated approach to scaling its BPaaS platform.
The research house expects growth potential in the upper single digits for multiple years. It highlights both earnings and multiple upsides.
Citi says that ALIT is at a ~30% discount to the low end and gives a target price of $12 per share based on a 12x FY24 EBITDA estimate, a 25% discount to peers.
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Alight up 3% as Citi Research initiates Buy/High risk rating, TP at $12