Aspen Technology price target lowered to $244 from $280 at KeyBanc

KeyBanc analyst Jason Celino lowered the firm’s price target on Aspen Technology to $244 from $280 to reflect adjustments to framework for multiple expansion, while keeping an Overweight rating on the shares. The firm acknowledges that AspenTech posted more mixed Q2 results, but says it is "encouraged" by its integration plans with the company reaching separability within its OSI business, and it will begin recognizing ACV for DGM term licenses and SMS businesses starting in Q3.