Aspen Technology price target lowered to $210 from $225 at Baird

Baird analyst Rob Oliver lowered the firm’s price target on Aspen Technology to $210 from $225 and keeps an Outperform rating on the shares. The firm said whiole they were not surprised by reduced 2024 ACV growth, the magnitude and details were worse than expected. The company cited a spending slowdown in heritage Aspen and sales execution issues.