Blackbaud price target lowered to $65 from $75 at Stifel

Stifel lowered the firm’s price target on Blackbaud (BLKB) to $65 from $75 and keeps a Hold rating on the shares. After having attended Blackbaud’s annual customer conference, bbcon, this week in Philadelphia, the firm says Blackbaud has “clearly made progress in its product capabilities” and believes Blackbaud “remains the leader in its space,” but lowered its price target due to multiple compression.