Magic Software price target raised to $18 from $16 at Barclays

Barclays raised the firm’s price target on Magic Software (MGIC) to $18 from $16 and keeps an Overweight rating on the shares. The company’s top-line growth was higher than the firm’s estimates as well as consensus, while margins came in lower, the analyst tells investors in a research note. The firm added that management raised year-end guidance slightly, commenting on positive traction, and lifted its price target as it rolls its target multiples forward to its FY26 revenues.