PTC Analyst Turns Bullish, As Stock Trades At Discount To Peers
Portfolio Pulse from Priya Nigam
Shares of PTC Inc. (NASDAQ:PTC) rose in early trading on Monday following the company's acquisition of Pure-Systems. Analyst Ken Wong from Oppenheimer upgraded PTC's rating from Perform to Outperform, setting a price target of $165. Wong believes PTC will continue to show resilient growth while maintaining discipline on expenses. He also noted that PTC's stock trades at a significant discount to its peers, which could narrow as investors gain confidence in the company's ongoing business transitions.
October 30, 2023 | 4:30 pm
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PTC Inc.'s stock rose following its acquisition of Pure-Systems. The company's rating was upgraded by Oppenheimer analyst Ken Wong, who set a price target of $165. Wong noted that PTC's stock trades at a significant discount to its peers, which could narrow as investors gain confidence in the company's ongoing business transitions.
The news of PTC's acquisition of Pure-Systems and the subsequent upgrade of its rating by an Oppenheimer analyst is likely to have a positive impact on the company's stock. The analyst's note that PTC's stock is trading at a significant discount to its peers could attract more investors, potentially driving the stock price up.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100