BofA lowered the firm’s price target on PTC (PTC) to $172 from $190 and keeps a Neutral rating on the shares following the earnings report. The firm says the company’s macro backdrop remains tough but isn’t getting worse. It reduced annual sales forecasts post the print.
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Read More on PTC:
- PTC: Decelerating ARR Growth and Limited Visibility Temper Strong Earnings, Supporting a Neutral Rating
- PTC Inc. Earnings Call: Cash, AI and Buybacks Drive Outlook
- PTC price target lowered to $180 from $220 at Stifel
- PTC price target lowered to $195 from $235 at RBC Capital
- PTC price target lowered to $189 from $219 at BMO Capital