Dynatrace price target raised to $70 from $60 at BofA

BofA analyst Koji Ikeda raised the firm’s price target on Dynatrace to $70 from $60 and keeps a Buy rating on the shares. The firm expects the company to report “good results” on February 8 after attending its annual Perform conference last week. Checks suggest improving demand and end-market positioning, which should enable the business to drive 20%-plus ARR growth with healthy free cash flow generation over the medium-term, says the analyst, who does not expect management to provide an early FY25 look.