Agilysys price target lowered to $120 from $140 at Needham

Needham analyst Mayank Tandon lowered the firm’s price target on Agilysys (AGYS) to $120 from $140 and keeps a Buy rating on the shares after holding investor meetings with its management team. The firm was left incrementally confident that subscription growth is poised to accelerate over the near-to-medium term on the back of the Marriott PMS – property management system – roll-out and continued strength in the rest of the business, the analyst tells investors in a research note.