ACI Worldwide upgraded to Overweight from Equal Weight at Stephens

Stephens analyst Charles Nabhan upgraded ACI Worldwide (ACIW) to Overweight from Equal Weight with a $60 price target citing a combination of valuation, strong revenue visibility, and capital flexibility. While the company’s fiscal year guidance was not raised to reflect a Q1 beat, the firm believes continued momentum in expansion, cross-sell and new business “could lead to upside as we move through the year,” the analyst tells investors. The firm also believes a premium valuation is warranted given the favorable demand environment and current management’s “track record of execution.”