Smartsheet price target raised to $60 from $52 at Canaccord

Canaccord raised the firm’s price target on Smartsheet to $60 from $52 and keeps a Buy rating on the shares. The firm said they posted solid FQ2 results highlighted by continued momentum in the enterprise and persistent yet expected pressure in SMB. Canaccord also noted the shares have been strong on the back of recent M&A speculation, and with news of named suitors, this certainly feels closer to reality than it did a couple of months ago.