Loop Capital lowered the firm’s price target on Aspen Technology to $240 from $270 but keeps a Buy rating on the shares. The company reported a "noisy" quarter and its chemical headwinds have started to bite, but the shortfall was more about matters of timing and growing pains related to the EMR merger rather than competitive threats or longer-term structural issues, the analyst tells investors in a research note. Buying this "temporarily broken stock" should reward "intrepid investors", Loop Capital added.
Confident Investing Starts Here:
- Quickly and easily unpack a company's performance with TipRanks' new KPI Data for smart investment decisions
- Receive undervalued, market resilient stocks straight to you inbox with TipRanks' Smart Value Newsletter
Published first on TheFly
See today’s best-performing stocks on TipRanks >>
Read More on AZPN:
- William Blair downgrades Aspen Technology on chemical softness
- Aspen Technology downgraded to Market Perform from Outperform at William Blair
- Aspen Technology cuts FY23 EPS view to $5.63-$5.83, consensus $7.06
- Aspen Technology reports Q3 adjusted EPS $1.06, consensus $1.74
- InterDigital appoints Skip Maloney as chief people officer