CSG Systems price target raised to $72 from $64 at Cantor Fitzgerald

Cantor Fitzgerald raised the firm’s price target on CSG Systems (CSGS) to $72 from $64 and keeps an Overweight rating on the shares. CSG’s non-GAAP revenue was below consensus estimates, though its payments business, which has higher margin revenue, is seasonally stronger in the fourth quarter, the analyst tells investors in a research note. While shares have recently inflected higher, the firm believes due to reports of potential strategic interest in the name, and Cantor continues to believe that CSG remains attractive.