Nice upgraded to Overweight from Neutral at Piper Sandler

Piper Sandler analyst James Fish upgraded Nice to Overweight from Neutral with a price target of $227, up from $222. Nice’s win-rates and available cloud seats are picking up as incumbents "further struggle given a variety of issues," Fish tells investors in a research note. The analyst says the company’s new business trends have returned to positive levels, with the company having a "more resilient base." He sees the second half of 2023 as a potential recurring revenue inflection point. In addition, the potential for an FCC spin-out over the medium term appears to be increasing in probability, writes Fish.