Pegasystems price target raised to $60 from $50 at DA Davidson

DA Davidson raised the firm’s price target on Pegasystems (PEGA) to $60 from $50 and keeps a Neutral rating on the shares after assuming coverage of the name. Healthy Q2 results showed another quarter of ACV acceleration driven by continued high demand from customers in Pega’s business transformation capabilities, the analyst tells investors in a research note.