FICO price target raised to $1,418 from $1,413 at Raymond James

Raymond James analyst Patrick O’Shaughnessy raised the firm’s price target on FICO to $1,418 from $1,413 and keeps an Outperform rating on the shares. FICO’s Q2 finished well ahead of the firm’s estimates, with upside in revenue and margins due to special pricing in Scores driving a healthy non-GAAP EPS beat, and while Software revenues and bookings fell a bit short of expectations, platform growth continues at a solid pace while margins showed further signs of scaling higher, the analyst tells investors in a research note. Raymond James continues to believe FICO is a premier business model that warrants a premium valuation and remains comfortable with its positive rating.