Citi analyst George Kurosawa initiated coverage of SPS Commerce with a Buy rating and $216 price target. The analyst sees upside potential from SPS as a new CEO steps into an opportunity to meaningfully increase the total addressable market. Following a normalization of COVID supply chain pressures, secular tailwinds from the digitization and consumerization will support the company’s growth outlook as retail and other industries look to compete in the “New Normal economy,” the analyst tells investors in a research note.
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