Bentley Systems price target raised to $59 from $53 at RBC Capital

RBC Capital analyst Matthew Hedberg raised the firm’s price target on Bentley Systems to $59 from $53 and keeps an Outperform rating on the shares ahead of its Q2 results. The firm will focus on the company’s commentary around the demand environment, which remains uneven yet stable overall, along with the recent accelerators of growth, the analyst tells investors in a research note. RBC adds that it remains positive on the long-term opportunity for Bentley Systems around the digitalization of infrastructure engineering.