Agilysys price target raised to $80 from $65 at Craig-Hallum

Craig-Hallum analyst George Sutton raised the firm’s price target on Agilysys (AGYS) to $80 from $65 and keeps a Buy rating on the shares after the company announced an agreement with Marriott (MAR) to deploy its cloud-native property management system, or PMS, software across Marriott’s United States and Canada luxury, premium and select service hotels over the coming years. Not only will the deal more than double the number of managed property management system rooms, but the Marriott win is "significant enough to suggest that the company, the industry, and the street may look at this as a definably significant event" and it gives Agilysys "a key reference customer who can turn heads across the industry," Sutton tells investors.