Oppenheimer Maintaining Outperform On Broadridge Financial Solutions

Oppenheimer & Co. has an Outperform rating and a $27 price target on Broadridge Financial Solutions BR. In a note sent to investors, Oppenheimer writes, "Even without an improvement in the business, we believe EPS can top $2.00 in FY13 vs. FY11E of $1.60. This is the result of a reversal in headwinds from the IBM, Penson and MSSB transactions. A market recovery could drive upside EPS to ~$2.50. Management remains confident in its ability to grow the sales pipeline. Maintain Outperform and $27 price target." Shares of BR gained 14 cents yesterday to close at $22.18.