Vertex price target raised to $42 from $31 at JMP Securities

JMP Securities analyst Patrick Walravens raised the firm’s price target on Vertex (VERX) to $42 from $31 and keeps an Outperform rating on the shares. Vertex reported strong Q4 results and “good” guidance, and JMP continues to like Vertex as an opportunity for capital appreciation, as it offers a superior tax solution with deep integration to leading vendors like SAP (SAP) and thinks Vertex offers a model with durable growth across macroeconomic environments and increasing profitability, the analyst tells investors in a research note.