Manhattan Associates price target lowered to $220 from $260 at Citi

Citi analyst George Kurosawa lowered the firm’s price target on Manhattan Associates to $220 from $260 and keeps a Neutral rating on the shares post the Q1 report. While still likely light of elevated expectations, the currency headwind on remaining performance obligations is masking strength, the analyst tells investors in a research note. The firm believes Manhattan’s new products resonating.