BTIG upgrades Agilysys to Buy on ‘game-changing contract win’

BTIG analyst Matthew VanVliet upgraded Agilysys to Buy from Neutral with an $83 price target. The company announced a "game-changing contract win" with Marriott to deploy its property management system across U.S. and Canada luxury, premium and select service hotels over the next several years, VanVliet tells investors in a research note. This represents a potential 5,600 properties with 940,000 rooms, which should nearly triple Agilysys’ PMS business and provide an incremental 20%-plus growth in fiscal 2025 through 2027, says the analyst. Additionally, the contract completely validates Agilysys’s investments over the past few years, especially the Indian development center buildout, contends VanVliet.