SS&C price target lowered to $66 from $70 at DA Davidson

DA Davidson lowered the firm’s price target on SS&C to $66 from $70 and keeps a Buy rating on the shares. The company reported “another near miss” on Q3 earnings and the management trimmed their prior guidance for 2023, the analyst tells investors in a research note. The firm adds however that given its forecast for $0.9B-$1.0B in free cash flow in 2023, SS&C has good flexibility to reduce debt, pursue additional acquisitions, and/or repurchase shares.