Jack Henry price target raised to $190 from $174 at DA Davidson

DA Davidson raised the firm’s price target on Jack Henry to $190 from $174 and keeps a Buy rating on the shares. The U.S. bank M&A activity year-to-date continues to run at a much lower level than the average of the last ten years, and while the higher de-conversion fees create revenue and margin benefits for Jack Henry in the short-term, the company would clearly prefer to lose fewer customers to acquisitions, the analyst tells investors in a research note. The firm is also shifting its valuation framework onto 2025 expectations as part of its price target adjustment.