Descartes Systems price target raised to $88 from $82 at BMO Capital

BMO Capital raised the firm’s price target on Descartes Systems to $88 from $82 and keeps a Market Perform rating on the shares. The company’s “solid” Q3 results demonstrated organic resilience in a tougher macro, as the secular growth in key product segments more than offset softer transaction volumes, the analyst tells investors in a research note. Descartes Systems can continue to execute successfully on its strategy of delivering consistent EBITDA growth, though on a relative basis, BMO prefers other consolidators in its coverage universe.