Vtex price target raised to $5.50 from $5.00 at DA Davidson

DA Davidson analyst Franco Granda raised the firm’s price target on Vtex to $5.50 from $5.00 and keeps a Buy rating on the shares. The company is well set to deliver a solid second half of the year, pending any implosion of the economy, the analyst tells investors in a research note. Analysis of website data suggests new store momentum has accelerated thus far this quarter, creating upside potential to estimates for the second half of the year, the firm states, adding that positive macroeconomic indicators from Brazil and improving conditions in other key Latin American countries bode well for increased Vtex activity.