PTC price target raised to $165 from $150 at Baird

Baird analyst Joe Vruwink raised the firm’s price target on PTC to $165 from $150 and keeps an Outperform rating on the shares. The analyst expects results above consensus and a raise in the low end of organic ARR growth guidance. While the "industrial" macro is not without challenges, feedback from partners suggests underlying impacts on business are not getting worse, Baird tells investors.