SS&C price target raised to $74 from $70 at DA Davidson

DA Davidson analyst Peter Heckmann raised the firm’s price target on SS&C to $74 from $70 and keeps a Buy rating on the shares ahead of its Q4 results next month. The analyst believes that several items could prove to be tailwinds to growth for the company, adding that its midpoints of 2023 guidance range should meet or modestly exceed the firm’s forecasts and the consensus. With $1.1B in anticipated 2023 free cash flow, SS&C has good flexibility to reduce debt, pursue additional acquisitions and/or repurchase shares, the firm adds.