Altair Engineering price target lowered to $75 from $85 at Oppenheimer

Oppenheimer lowered the firm’s price target on Altair Engineering to $75 from $85 and keeps an Outperform rating on the shares. Altair’s Q3 results were solid, with revenue above the high end of guidance on Software revenue outperformance, the analyst tells investors in a research note. Altair did not experience headwinds from UAW strikes, a key concern heading into the print, and did not experience export restrictions that peers noted, the firm said.