Needham Reiterated a Buy Rating on Alight, Inc (ALIT)

Alight, Inc. (NYSE:ALIT) is one of the Best Stocks Under $10 With Biggest Upside PotentialOn June 20, Kyle Peterson from Needham reiterated a Buy rating on Alight, Inc. (NYSE:ALIT) with a price target of $8.

The analyst reiterated the bullish sentiment, drawing from recent meetings with the company’s CEO and CFO. Peterson noted management’s strong dedication to improving relationships with both clients and third-party evaluators, which he believes signals a clear strategy to reinforce Alight, Inc. (NYSE:ALIT)’s position in the market.

Needham Reiterated a Buy Rating on Alight, Inc (ALIT)

A person viewing their financial progress on a computer, highlighting the financial health offerings of the company.

Peterson also points out the company’s promising growth prospects, noting significant opportunities in areas including leave management. Moreover, the company’s adoption of Generative AI to enhance operational efficiency is also seen as a key driver for future success. The analyst believes that the company trades at an attractive valuation, creating a compelling risk-reward balance for growth-at-a-reasonable-price (GARP) investors.

Alight, Inc. (NYSE:ALIT) is a cloud-based Human Resource Management technology and services provider.

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.