Wells Fargo Initiates a Buy Rating on CDK Global (CDK)

Wells Fargo analyst Charles Nabhan initiated coverage with a Buy rating on CDK Global (CDKResearch Report) yesterday and set a price target of $65.00. The company’s shares closed last Wednesday at $53.31, close to its 52-week high of $55.51.

Currently, the analyst consensus on CDK Global is a Strong Buy with an average price target of $67.00, a 26.1% upside from current levels. In a report issued on May 25, Oppenheimer also maintained a Buy rating on the stock with a $65.00 price target.

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The company has a one-year high of $55.51 and a one-year low of $38.44. Currently, CDK Global has an average volume of 528.6K.

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CDK Global, Inc. engages in the provision of integrated information technology and digital marketing solutions to the automotive retail industry. It operates through following segments: CDK North America and CDK International. The CDK North America segment provides technology-based solutions. The CDK International segment caters to the United States and Canada. The company was founded on September 30, 2014 and is headquartered in Hoffman Estates, IL.