Intapp price target raised to $60 from $45 at Stifel

Stifel raised the firm’s price target on Intapp to $60 from $45 and keeps a Buy rating on the shares. The firm is tweaking its adjustments near the close of Intapp’s fiscal Q1 to reflect greater seasonality in the business, noting that its estimates now account for a greater share of net new cloud ARR being driven in the second half of the year. Shares have risen more than 55% from the company’s early August lows, notes the firm, which believes this strength reflects “a very solid set” of fiscal Q4 results, but “more importantly,” a greater confidence in the company’s long-term positioning in its end-markets and the potential for AI to serve as an incremental revenue driver.