Manhattan Associates price target raised to $260 from $240 at Truist

Truist raised the firm’s price target on Manhattan Associates to $260 from $240 and keeps a Buy rating on the shares. The company’s Q4 results capped a strong overall 2023 that included substantial upside in cloud subscription revenue, total revenue, and profitability, as well as cash flow, the analyst tells investors in a research note. Manhattan Associates’ unique asset value with clear-cut supply chain and omni-channel commerce leadership warrants an ongoing premium valuation, the firm added.