Oppenheimer Maintains Broadridge Financial Solutions PT And Rating

Even without an improvement in the business, Oppenheimer said it believes Broadridge Financial Solutions' (NYSE: BR) 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,” Oppenheimer writes. “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.”

Broadridge Financial Solutions closed Tuesday at $22.18.