DA Davidson analyst Lucky Schreiner lowered the firm’s price target on Progress Software (PRGS) to $50 from $70 and keeps a Buy rating on the shares ahead of its Q1 earnings next week. The firm expects stable results with potential upside from the company’s SaaS business, the analyst tells investors in a research note. The stable results will be enough for the stock to react favorably to earnings, and the recent takeout rumors present new upside for Progress Software, the firm added.
Claim 30% Off TipRanks
- Unlock hedge fund-level data and powerful investing tools for smarter, sharper decisions
- Discover top-performing stock ideas and upgrade to a portfolio of market leaders with Smart Investor Picks
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on PRGS:
