Manhattan Associates initiated with a Buy at Stifel

Stifel initiated coverage of Manhattan Associates (MANH) with a Buy rating and $250 price target The company has established itself as a clear leader in the supply chain and omnichannel commerce software categories through its end-to-end, mission-critical platform, and is well positioned to extend its leadership through the adoption of its cloud solutions among its customer base and net new logos, the analyst tells investors in a research note. The firm believes the company’s solutions are and will remain highly relevant in its target markets, as customers look to drive efficiencies in their operations and effectively keep pace with the rapidly shifting market dynamics in retail.