As previously reported, Stephens analyst Charles Nabhan upgraded ACI Worldwide (ACIW) to Overweight from Equal Weight with a $60 price target While the company’s fiscal year guidance was not raised to reflect a beat in Q1, resulting in underperformance in shares, the firm believes continued momentum in expansion and cross-selling as well as new business could lead to upside through the year, says the analyst, who cites a combination of valuation, strong revenue visibility, and capital flexibility for the upgrade.
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