Guidewire price target raised to $95 from $90 at Wells Fargo

Wells Fargo analyst Michael Turrin raised the firm’s price target on Guidewire to $95 from $90 and keeps an Equal Weight rating on the shares. Following the company’s Analyst Day event, Wells Fargo says Guidewire is moving in a better direction, and sees signs of progress around the business model transition towards cloud, its sustained leadership position among the P&C insurance industry, and potential for significant margin expansion as the transition scales, the analyst tells investors in a research note.