Needham Reaffirms Buy on Alight (ALIT) with $4.50 PT

Alight Inc. (NYSE:ALIT) is one of the best stocks under $3 to invest in. On October 21, Kyle Peterson from Needham maintained a Buy rating on Alight, with a price target of $4.50.

Earlier on October 10, Citi lowered the firm’s price target on Alight to $8.50 from $11 and maintained a Buy rating on the shares. The firm noted that Alight’s backlog continues to grow, even though the acceleration of its growth has been delayed. Therefore, Citi reduced the stock’s valuation multiple. However, the firm highlights that Alight remains confident in its plan for margin expansion.

Needham Reaffirms Buy on Alight (ALIT) with $4.50 PT

Furthermore, on October 8, D.A. Davidson analyst Dan Waggoner maintained a Buy rating on Alight today and set a price target of $7.00.

Alight Inc. (NYSE:ALIT) is a technology-enabled services company worldwide. The company provides Alight Worklife, which is an intuitive, cloud-based employee engagement platform.

While we acknowledge the potential of ALIT to grow, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an AI stock that is more promising than ALIT and that has 100x upside potential, check out our report about this cheapest AI stock.

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Disclosure: None. This article is originally published at Insider Monkey.