PTC price target raised to $210 from $200 at Mizuho

Mizuho analyst Matthew Broome raised the firm’s price target on PTC to $210 from $200 and keeps a Buy rating on the shares. PTC reported solid fiscal Q1 results despite ongoing macro challenges, with upside to annual recurring revenue and free cash flow, the analyst tells investors in a research note. The firm believes the stock setup “has become slightly more favorable.”