Pegasystems price target raised to $50 from $47.50 at DA Davidson

DA Davidson analyst William Jellison raised the firm’s price target on Pegasystems (PEGA) to a split-adjusted $50 from $47.50 and keeps a Neutral rating on the shares. The firm cites the company’s recently-announced $700M free cash flow goal for 2028 and believes the required performance from Pega Cloud is both ambitious and achievable, which it views “favorably”, the analyst tells investors in a research note.