PTC price target raised to $210 from $165 at Berenberg

Berenberg raised the firm’s price target on PTC to $210 from $165 and keeps a Buy rating on the shares. Business sentiment in manufacturing industries is gradually recovering and the recovery is relatively stronger in the U.S. than in Europe, the analyst tells investors in a research note. Moreover, across manufacturing industries, the software spending outlook is the strongest in PTC’s primary end markets, says the firm. It believes PTC will outperform its direct peers.