PTC price target raised to $231 from $187 at BMO Capital

BMO Capital raised the firm’s price target on PTC (PTC) to $231 from $187 and keeps an Outperform rating on the shares. The company’s Q3 results were better than feared as PTC noted modest improvements in deal trends which allowed the management to lift the low end of annual recurring revenue growth guidance for FY25 to 8%-9%, the analyst tells investors in a research note.