SS&C price target raised to $76 from $71 at JPMorgan

JPMorgan raised the firm’s price target on SS&C Technologies (SSNC) to $76 from $71 and keeps an Overweight rating on the shares. The condition of the hedge fund industry appears to favor SS&C versus Enfusion (ENFN), the analyst tells investors in a research note. The firm says SSNC customers, typically hedge fund “behemoths,” often act as consolidators, swallowing up smaller players that are usually serviced by Enfusion. JPMorgan increased SS&C’s price target while downgrading Enfusion to Underweight.