Stifel initiated coverage of CCC Intelligent Solutions with a Buy rating and $14 price target. CCC is a mission-critical workflow SaaS platform, mostly to the Automotive Claims part of the Insurance industry, and “the largest player in the U.S.” in the space with roughly 9% of the $9B estimated addressable market, the analyst tells investors. The firm sees “multiple large growth vectors that support a long runway for strong organic growth,” the analyst added.
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Read More on CCCS:
- Advent weighs sale of CCC Intelligent Solutions, Reuters reports
- CCC Intelligent Solutions Q2 results were ‘solid’, says Barrington
- CCC Intelligent Solutions price target raised to $13 from $12 at Barclays
- CCC Intelligent Solutions sees FY23 revenue $851M-$855M, consensus $848.2M
- CCC Intelligent Solutions sees Q3 revenue $215M-$217M, consensus $214.8M
