ACI Worldwide price target raised to $42 from $36 at DA Davidson

DA Davidson raised the firm’s price target on ACI Worldwide to $42 from $36 and keeps a Buy rating on the shares. The company’s Q1 revenue exceeded estimates but its adjusted EBITDA was almost double the firm’s forecast, the analyst tells investors in a research note. DA Davidson adds that over the next two years, the firm is looking for 5%-7% organic revenue growth, with the revenue mix continuing to shift to recurring revenue.