Altair Engineering price target raised to $81 from $70 at Loop Capital

Loop Capital raised the firm’s price target on Altair Engineering to $81 from $70 and keeps a Buy rating on the shares as part of a broader research note discussing the firm’s call with a 30-plus-year veteran of the engineering simulation software sector. The analyst notes that the firm’s takeaways suggest that the core demand equation for engineering simulation software remains intact and that its major trends powering the sector include increasing use of multi-physics simulation, building AI/ML technologies into engineering workflows, and incorporating simulation in upfront design processes. The company remains well-positioned to capitalize on the aforementioned trends from a growth perspective, Loop Capital tells investors in a research note.