In a report released yesterday, Kenneth Talanian from Evercore ISI maintained a Buy rating on PTC Inc (PTC), with a price target of $110. The company’s shares closed yesterday at $81.35.
Talanian noted:
“We continue to view the recent sell-off as largely sentiment driven given that PTC’s fundamentals were strong in F4Q18, the company offered compelling guidance for F19, and this acquisition represents yet another tailwind to PTC’s long- term plan. We continue to view this as an opportunity to buy shares at a considerable discount to the $94.50 at which ROK priced its well-diligenced $1B investment. Remain Outperform rated with a $110 PT.”
According to TipRanks.com, Talanian is a 4-star analyst with an average return of 9.6% and a 58.4% success rate. Talanian covers the Technology sector, focusing on stocks such as Proofpoint Inc, Check Point, and FireEye Inc.
Currently, the analyst consensus on PTC Inc is a Strong Buy with an average price target of $110.57.
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The company has a one-year high of $107.44 and a one-year low of $59.40. Currently, PTC Inc has an average volume of 1.29M.
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PTC, Inc. engages in the development and provision of software-based product management and development solutions. It operates through the following business segments: Internet of Things (IoT) Group, Solutions Group, and Professional Services.
