DA Davidson raised the firm’s price target on Manhattan Associates to $260 from $240 and keeps a Buy rating on the shares following the company’s Momentum 2024 event. Manhattan announced a significant new addition to its “Active” portfolio of cloud solutions, Supply Chain Planning, that deepens its value-added across customers’ supply chain workflows, the analyst tells investors in a research note. The firm says generative artificial intelligence features were also announced at the event. Davidson calls Manhattan “the outright ROIC leader” in its software coverage, with a 134% return. It cites the company’s peer-leading value capture for the target increase.
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