Progress Software price target raised to $83 from $78 at Guggenheim

Guggenheim raised the firm’s price target on Progress Software (PRGS) to $83 from $78 and keeps a Buy rating on the shares. The firm is updating its model to account for the acquisition of ShareFile, which closed on October 31. The firm believes Progress should exceed Q4 Street revenue estimates and ShareFile should deliver “incremental shareholder value,” the analyst tells investors in a group note on the factors likely to affect the Software sector in 2025.