FICO price target raised to $875 from $745 at Jefferies

Jefferies raised the firm’s price target on FICO to $875 from $745 and keeps a Buy rating on the shares. The analyst increased fiscal 2024 adjusted earnings estimates after the company’s Q2 results generally exceeded the firm’s expectations. FICO’s software business is experiencing significantly better bookings and growth than anticipated, B2B Scores are exhibiting better pricing, and B2C Scores are exhibiting revenue stability, the analyst tells investors in a research note. The firm is now more optimistic about the company’s prospects for 2024.