BMO Capital raised the firm’s price target on PTC to $195 from $184 and keeps an Outperform rating on the shares ahead of its Q1 results. The analyst cites the recent discussions with an industry consultant who spoke favorably upon year-end demand and has turned more optimistic regarding buying trends for 2024 in both CAD and PLM. BMO adds that it sees supportive near- and medium-term catalysts for PTC to drive durable growth and the next leg of margin expansion.
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