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Deluxe (DLX) Receives Strong Buy Rating and Raised Price Target by TD Cowen Analyst

By Don Francis, Editor
May 15, 2024 7:05 AM UTC
Deluxe (DLX) Receives Strong Buy Rating and Raised Price Target by TD Cowen Analyst

TD Cowen's Lance Vitanza raised their price target on Deluxe (NYSE: DLX) by 6.1% from $33 to $35 on May 14, 2024. The analyst maintained their Strong Buy rating on the stock.

Deluxe Corporation, a company known for its production of personal and business checks, as well as marketing and web services, recently reported its Q1 2024 earnings on May 1, 2024. In response to the "strong" print, TD Cowen updated its model and raised its estimates "modestly." This adjustment was made due to management's favorable guidance and TD Cowen's belief that additional beats over the rest of the year are more likely than not.

According to Vitanza, Deluxe's positive performance has caught the attention of top-rated analysts. Currently, 100% of these analysts rate DLX as a Strong Buy or Buy, with none considering it a Hold or recommending selling the stock. This indicates a high level of confidence in Deluxe's future prospects.

Since the release of Deluxe's Q1 2024 earnings report, the stock price has surged by 18.9%. Looking at the year-over-year performance, DLX has gained an impressive 60.7%. During this period, Deluxe has outpaced the S&P 500, which has risen by 26.8%. These figures highlight the company's strong performance and investor optimism.

Lance Vitanza, the TD Cowen analyst responsible for the recent price target increase, is ranked in the top 4% of Wall Street analysts according to WallStreetZen. With an average return of 59.3% and a win rate of 54.1%, Vitanza has proven themselves to be a reliable and successful analyst. Their expertise lies in sectors such as Basic Materials and Communication Services.

Deluxe Corporation, founded in 1915 and headquartered in Minneapolis, MN, is known for its various brands, including New England Business Services Inc. (NEBS), McBee (formerly Royal McBee), and Checks Unlimited. The company offers a range of services, from check production to web development, web hosting, and fraud protection.

Is DLX a Buy, Hold or Sell?

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