Oppenheimer analyst Ittai Kidron raised the firm’s price target on Progress Software to $66 from $63 and keeps an Outperform rating on the shares. The firm said Progress delivered a “solid” Q2, beating consensus estimates behind “robust” demand for its product portfolio and strong cost management. Oppenheimer sees potential for upside to estimates in a stable demand environment which, coupled with a growing M&A pipeline, leaves the firm positive.
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