Descartes Systems price target raised to $104 from $100 at BMO Capital

BMO Capital raised the firm’s price target on Descartes Systems to $104 from $100 and keeps a Market Perform rating on the shares after its Q2 revenue beat. The firm contends that the company can continue to execute successfully on its strategy of delivering consistent EBITDA growth, noting that its recent organic services growth provides “comfort in that regard”, though on a relative basis, BMO prefers “other consolidators”, the analyst tells investors in a research note.