Bentley Systems price target raised to $60 from $57 at Mizuho

Mizuho analyst Matthew Broome raised the firm’s price target on Bentley Systems to $60 from $57 and keeps a Buy rating on the shares. The company reported mixed Q1 results and management tone sounded positive despite the ongoing challenging macro environment, the analyst tells investors in a research note. The firm believes Bentley’s cloud businesses should meaningfully expand while the public takeover interest from Schneider provides a valuation floor.