Needham raised the firm’s price target on Alight (ALIT) to $11 from $9 and keeps a Buy rating on the shares. The company’s Q3 results beat consensus forecasts on both revenue and EBITDA, which was an encouraging development following several quarters of choppy numbers, the analyst tells investors in a research note. Needham is also constructive on the board’s new dividend and sees this, combined with an ongoing commitment to share repurchases, as an effective way to help return capital to shareholders and maximize shareholder value, the firm adds.
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