Pegasystems price target lowered to $94 from $118 at KeyBanc

KeyBanc lowered the firm’s price target on Pegasystems (PEGA) to $94 from $118 and keeps an Overweight rating on the shares. The firm heads into Q1 earnings for its Workflow Automation sub-sector with a more balanced view. While tariffs likely do not have a direct impact on Pegasystems, increased macro uncertainty could delay customers’ decisions and spending on automation and digitization projects.