PTC price target raised to $240 from $225 at Oppenheimer

Oppenheimer analyst Ken Wong raised the firm’s price target on PTC (PTC) to $240 from $225 and keeps an Outperform rating on the shares. With investors cautious on fundamentals into Q3, the firm expects results, and forward commentary will be well received. Management expressed incremental confidence in FY26 free cash flow targets which Oppenheimer sees as a positive development after previously taking a noncommittal approach. Valuation is still attractive relative to Design Software peers despite embedding some M&A premium, the firm adds.