Rosenblatt Maintains Buy Rating for PTC: Here's What You Need To Know
Portfolio Pulse from Benzinga Insights
Rosenblatt has reaffirmed its Buy rating on PTC (NASDAQ:PTC), increasing the price target from $166.00 to $195.00. Despite a recent 2.02% decline in PTC's stock price to $177.00, the new target suggests a potential 10.17% upside. PTC specializes in high-end CAD and PLM software, along with IoT and AR solutions, primarily serving North America and Europe.
February 01, 2024 | 5:00 pm
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Rosenblatt maintains a Buy rating on PTC, raising the price target to $195, indicating a potential 10.17% upside from the current price.
The reaffirmation of the Buy rating and the increase in price target by Rosenblatt signal a strong confidence in PTC's future performance. Despite a recent dip in stock price, the analyst's revised target suggests a significant upside, likely due to PTC's solid product offerings in CAD, PLM, IoT, and AR, and its strong market presence in North America and Europe. This positive analyst action could attract investor interest and potentially drive up the stock price in the short term.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100