DA Davidson analyst Peter Heckmann raised the firm’s price target on ACI Worldwide to $34 from $29 and keeps a Buy rating on the shares. The analyst cites company’s Q4 EBITDA and revenue coming in slightly better than expectations. The firm further notes that its price target implies enterprise value of just over 11-times its 2024 forecast for adjusted EBITDA, compared to an average enterprise value of 12-13-times forward EBITDA over the last six years.
Published first on TheFly
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