Canaccord Genuity increased its rating on SPS Commerce SPSC from Hold to Buy and raised its price target from $25 to $45.
Canaccord Genuity commented, "SPS Commerce shares have pulled back along with other well-positioned, “flywheel” companies with competitive moats around the business. Barring all but another stock market collapse, we expect SPSC shares to resume their advance, with a potential for a 25%+ gain over the next 9-12 months. This pause has given us an opportunity to raise our rating to BUY from Hold."
SPS Commerce closed at $37.97 on Friday.
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