RBC Capital raised the firm’s price target on Descartes Systems to $110 from $100 and keeps an Outperform rating on the shares. The company reported “healthy” Q4 results with adjusted EBITDA coming in slightly above consensus and organic growth up sequentially to 9.0%-9.5% in Q4 from 8.5% in Q3, the analyst tells investors in a research note. Descartes’ valuation may re-rate higher as organic growth is sustained above historical averages, the firm added.
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