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Bentley Systems price target raised to $56 from $54 at KeyBanc

KeyBanc raised the firm’s price target on Bentley Systems (BSY) to $56 from $54 and keeps an Overweight rating on the shares. The firm notes Bentley posted better Q1 c.c. ARR growth of 12%, consistent with the prior quarter’s 12% and above the Street’s 10.8%, and reiterated its 2025 c.c. ARR growth guidance of 10.5%-12.5%. KeyBanc remains encouraged by Bentley’s positive commentary on infrastructure strength.

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