Dynatrace price target raised to $57 from $55 at BMO Capital

BMO Capital analyst Keith Bachman raised the firm’s price target on Dynatrace to $57 from $55 and keeps an Outperform rating on the shares. The firm contends that the company can generate 22%-23% reported annual recurring revenue growth vs. consensus estimates of 18%-19%. The analyst is also citing the longer-term growth potential of Grail/logs analytics and, more broadly, the competitive advantages of Dynatrace in AI.