PTC price target raised to $205 from $200 at Baird

Baird analyst Joe Vruwink raised the firm’s price target on PTC to $205 from $200 and keeps an Outperform rating on the shares. The firm said positive reseller feedback suggests demand forits products finished above expectations during 1Q, with outlook for 2024 moving higher relative to feedback last quarter; macro is still seen as hurting business more than helping, but “net” views on macro improved to best levels in many quarters.