CIBC raised the firm’s price target on Descartes Systems to $85 from $76 and keeps a Neutral rating on the shares. The company reported solid fiscal Q3 results, the analyst tells investors in a research note. Amid an uncertain macro environment, the firm continues to see potential headwinds to Descartes’ organic growth in fiscal 2024. It expects Descartes will look to supplement organic growth with acquisitions to meet its 10%-15% adjusted EBITDA growth target.
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