Pegasystems price target raised to $70 from $65 at Rosenblatt

Rosenblatt raised the firm’s price target on Pegasystems (PEGA) to $70 from $65 and keeps a Buy rating on the shares post the Q3 report. The company’s shift to the cloud is driving strong results, the analyst tells investors in a research note. The firm upped estimates to reflect the company’s “solid” Q3 report.