As previously reported, Loop Capital upgraded Aspen Technology (AZPN) to Buy from Hold with a price target of $213, up from $180. The rating change and the more positive outlook is based on recent conversations with Emerson (EMR) that give the firm increased confidence that the joint Emerson-AspenTech product and go-to-market synergies are likely to be a greater source of upside during FY24 and beyond than initially anticipated, the analyst tells investors in a research note. Integrating Aspen’s process simulation and manufacturing software with EMR’s control systems is resonating with customers and is proving to be a competitive differentiator against industrial automation competitors, the firm adds.
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