Descartes Systems price target raised to $75 from $71 at Barclays

Barclays raised the firm’s price target on Descartes Systems to $75 from $71 and keeps an Underweight rating on the shares. The analyst sees a continuation from the on-cycle trends for the off-cycle software earnings reporters, namely a solid Q4 and conservative guidance for the coming fiscal 2024. It will be tough calling the actual direction of share movements with such a set-up “given the greatly increased optimism,” the analyst tells investors in a research note. The firm prefers to stay conservative on the group.