Descartes Systems price target lowered to $100 from $115 at Morgan Stanley

Morgan Stanley lowered the firm’s price target on Descartes Systems (DSGX) to $100 from $115 and keeps an Overweight rating on the shares. Descartes reported a better-than-expected Q4 across the board, says the analyst, who sees the firm’s bull case “coming to fruition” with accelerating year-over-year growth. While the firm’s estimates “come up on the beats across the board,” the firm reduced the multiple it applies to account for peer multiples that have compressed, the analyst added.