SS&C price target raised to $76 from $65 at Needham

Needham analyst Mayank Tandon raised the firm’s price target on SS&C to $76 from $65 and keeps a Buy rating on the shares. The company’s in-line Q4 results were encouraging given the elevated recessionary fears and other pressures from currency headwinds and rising interest rates, the analyst tells investors in a research note. The risk-reward on the stock is favorable as SS&C should be able to compound earnings growth at a low double-digit CAGR over the medium term, the firm adds.