FICO price target lowered to $1,750 from $2,010 at Raymond James

Raymond James analyst Patrick O’Shaughnessy lowered the firm’s price target on FICO (FICO) to $1,750 from $2,010 and keeps an Outperform rating on the shares. FICO delivered very strong Q2 results, driven by higher mortgage pricing and solid origination volumes supporting Scores revenue, along with accelerating ARR growth in its Software platform, the analyst tells investors in a research note. While competitive concerns in credit scoring are likely to remain a near-term overhang, the company’s execution and improving growth profile support a constructive outlook, with the stock viewed as attractively valued, the firm says.