Bentley Systems upgraded to Buy at Rosenblatt ahead of earnings

As previously reported, Rosenblatt upgraded Bentley Systems to Buy from Neutral with a price target of $60, up from $54, ahead of Bentley reporting Q4 results on Tuesday, February 27. The firm’s estimates are unchanged and it expects an in-line or marginally better Q4 with 10% Subscription and License revenue growth, noting that it is rolling forward its valuation to FY25 and that it sees a 15% return to its revised target price.