BUZZ-ADP falls after Jefferies downgrades rating to 'underperform'** Shares of payroll processor Automatic Data Processing ADP.O fall 1.4% to $261.30 premarket
** Jefferies downgrades stock to "underperform" from "hold"; cuts PT to $230 from $245, a 14.1% downside to stock's last close
** "The fundamental outlook appears shaky" - Jefferies
** Brokerage adds that market saturation, larger competitors and falling interest rates have already pressured ADP's growth in 2025
** Three of 17 brokerages rate the stock "buy" or higher, 11 "hold" and three "sell" or lower; their median PT is $295 - data compiled by LSEG
** As of last close, stock down 9.5% YTD
(Reporting by Kanishka Ajmera in Bengaluru)
((mail to: Kanishka.Ajmera@thomsonreuters.com))
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