Cantor Fitzgerald analyst Matthew VanVliet initiated coverage of Tyler Technologies (TYL) with a Neutral rating and $600 price target as the analyst launched coverage on 12 application software names. Tyler is well-positioned in the public sector with a long runway of cloud migrations and general modernization still to come, says the analyst, who expects Tyler to continue to gain market share, driving annual top line growth of at least 10% over the next several years.
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