Pegasystems price target raised to $80 from $70 at RBC Capital

RBC Capital raised the firm’s price target on Pegasystems (PEGA) to $80 from $70 and keeps an Outperform rating on the shares after the company reported “solid” Q3 results with all metrics topping consensus estimates. The firm still sees upside to estimates from strong sales execution, bolstered by Blueprint momentum driving Cloud migration strength, and new partner investments, the analyst tells investors in a post-earnings note.