Qualtrics price target raised to $17 from $13 at BMO Capital

BMO Capital analyst Keith Bachman raised the firm’s price target on Qualtrics (XM) to $17 from $13 and keeps an Outperform rating on the shares. The analyst is citing the announcement by SAP (SAP) that it is looking to sell its stake in the company. The firm also believes that Qualtrics has an established leadership position in a large market growing in the mid-teens for the next few years.