Descartes Systems price target raised to $94 from $88 at BMO Capital

BMO Capital analyst Thanos Moschopoulos raised the firm’s price target on Descartes Systems to $94 from $88 and keeps a Market Perform rating on the shares. The company’s Q4 results demonstrated a slight sequential uptick in organic services growth, helped by a good demand backdrop for the company’s solutions, the analyst tells investors in a research note. Descartes can continue to execute successfully on its strategy of delivering consistent EBITDA growth, the firm notes, adding however that it prefers some of its peers on a “relative basis”.