Baird analyst Joe Vruwink raised the firm’s price target on Ansys to $305 from $295 and keeps an Outperform rating on the shares. The analyst believes R&D activity across diverse end markets and rising wallet share for simulation can drive low-double-digit organic ACV growth in 2023 as recent reseller checks are supportive of this. Meanwhile, normalizing expense growth after period of elevated investment should drive cash flow above consensus estimates.
Published first on TheFly
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