DA Davidson analyst Peter Heckmann lowered the firm’s price target on Jack Henry to $174 from $180 and keeps a Neutral rating on the shares. The company’s Q4 results were “solid”, exceeding estimates on earnings and revenue, but the initial outlook for FY24 operating income was below consensus, the analyst tells investors in a research note. The firm is reducing its earnings outlook projections given the management’s margin commentary, cutting FY24 EBITDA view to $699M from $737.7M.
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