As previously reported, Wells Fargo analyst Michael Turrin upgraded Guidewire to Overweight from Equal Weight. 2023 market the third straight year of underperformance for software, including outsized impacts to SMID-caps, the firm notes. Regardless of if macro improves in 2024, Wells is expecting some of these forgotten names with company specific catalysts and/or inexpensive valuations to stage a comeback, given potential upside to estimates plus favorably skewed risk/reward.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
See Insiders’ Hot Stocks on TipRanks >>
Read More on GWRE:
- Guidewire price target raised by $11 at BofA, here’s why
- Guidewire price target raised to $130 from $117 at Baird
- Guidewire price target raised to $115 from $96 at RBC Capital
- Guidewire price target raised to $115 from $100 at Oppenheimer
- Guidewire price target raised to $115 from $110 at JMP Securities
