Manhattan Associates price target raised to $287 from $257 at Citi

Citi analyst George Kurosawa raised the firm’s price target on Manhattan Associates to $287 from $257 and keeps a Neutral rating on the shares. The firm updated models and preference rankings across the back office software group post the Q2 results, seeing potential for “underappreciated SMID-cap software names to re-rate amid a more risk-on rate cut cycle with stability in IT budget spend and emerging AI opportunities.” Citi’s new top picks are Pegasystems (PEGA), Intapp (INTA), and Workiva (WK) with Intuit (INTU) its favorite large-cap name.