RBC Capital upgraded Jack Henry (JKHY) to Outperform from Sector Perform with a price target of $210, up from $185. The firm says the company has a “catalyst path that is well positioned to withstand the current market volatility.” With the issues and core platform transition at one of Jack Henry’s largest competitors, Fiserv (FISV), market share gains for Jack Henry in core processing are highly likely, the analyst tells investors in a research note. In addition, RBC says Banno, the company’s digital banking app, will begin selling outside Jack Henry’s core base in January, which opens a new addressable market.
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