Progress Software price target raised to $67 from $65 at Wedbush

Wedbush raised the firm’s price target on Progress Software to $67 from $65 and keeps an Outperform rating on the shares. Recent field checks give the firm incremental confidence in the Progress story for 2024, the analyst tells investors in a research note. Progress is in a strong position to continue generating stable profitable growth as the company seeks to double down on its accretive M&A strategy while the demand environment and deal pipeline remain solid, the firm says.