Raymond James last night initiated coverage of Guidewire Software with an Outperform rating and $125 price target. The shares offer a compelling long-term compounding opportunity, the analyst tells investors in a research note. The firm says that with 20 years serving the property and casually insurance industry, Guidewire “commands a notable market-leading position” as the insurance industry faces a need for mission-critical IT modernization. The firm likes the company’s market-leading solution portfolio and customer base with strong customer retention.
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