Oppenheimer Reports On BR Management Meetings

Oppenheimer has issued a report following meetings with the management of Broadridge Financial Solutions BR. According to the report, "BR remains well positioned and could earn nearly $2.00/share in FY13. Although event-driven and trade-related revenues remain soft, the company continues to generate substantial FCF, which could be used to repurchase shares opportunistically, once Matrix is integrated. Maintain Outperform." BR is rated Outperform and has a $27 PT. BR closed at $21.62 yesterday.