Workday viewed as high-quality but maturing SaaS franchise with limited near-term catalysts

Workday Inc (NASDAQ:WDAY) was reinstated with a 'Neutral' rating and a $140 price objective by Bank of America, which said the enterprise software company remains a high-quality franchise but faces limited near-term catalysts as growth moderates. Shares traded at about $124 on Wednesday, down about 42% in the year-to-date.