PTC price target raised to $200 from $195 at BMO Capital

BMO Capital analyst Daniel Jester raised the firm’s price target on PTC to $200 from $195 and keeps an Outperform rating on the shares. The company’s Q1 results showed performance consistent with the firm’s medium-term favorable view of the shares, generating modest upside on annualized recurring revenue and free cash flow despite an ongoing challenging macro selling environment, the analyst tells investors in a research note.