Endava price target raised to $72 from $70 at Morgan Stanley

Morgan Stanley raised the firm’s price target on Endava to $72 from $70 and keeps an Overweight rating on the shares ahead of the company’s scheduled report of fiscal Q4 results on Tuesday, September 19. Steady Q2 EPS results across the FS and Payments sector are “modestly reassuring” for Endava, says the firm, which expects merchant acquirer anchor clients to drive “modest upside to numbers.” The firm is raising its FY24 estimates “slightly” as it expects a back-half-weighted acceleration to materialize in the first half of the fiscal year, the analyst tells investors.