Raymond James upgraded Descartes Systems (DSGX) to Outperform from Market Perform with an $118 price target The Q3 results showed modest upside, with Services organic growth rebounding to roughly 7% in constant currency, even as overall organic growth remained muted at about 2% due to tough hardware and PS comparisons and ongoing softness in transactional revenue, the analyst tells investors in a research note. The shares now trade near the bottom of their 10-year EBITDA multiple range, positioning the stock well for a potential freight-market recovery, Raymond James says.
TipRanks Cyber Monday Sale
- Claim 60% off TipRanks Premium for data-backed insights and research tools you need to invest with confidence.
- Subscribe to TipRanks' Smart Investor Picks and see our data in action through our high-performing model portfolio - now also 60% off
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on DSGX:
- Strong Performance and Strategic Positioning Justify Buy Rating for The Descartes Systems Group
- Descartes Systems price target lowered to $106 from $108 at Barclays
- Descartes Systems Group Reports Strong Q3 Financials
- Descartes Systems Group Reports Record Q3 Financial Results and Announces Strategic Initiatives
- Descartes Systems appoints Edward Gardner as CFO