DA Davidson raised the firm’s price target on Envestnet to $70 from $66 and keeps a Buy rating on the shares. Over the next two years, the company is positioned to generate compound annual organic growth in total revenue of 8%-9%, but compound annual growth in adjusted EBITDA of 21%-22% due to the re-expansion of margins to roughly 25% of revenue in 2025, the analyst tells investors in a research note.
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