Market Overview

UPDATE: Canaccord Genuity Reiterates Buy Rating, Raises PT on Aspen Technology

Related AZPN
Top Performing Industries For June 10, 2016
AspenTech Will Not Revise Offer for KBC
Brexit Spoils Software M&A Lift: Salesforce, Adobe, Workday Fall (Investor's Business Daily)

In a report published Wednesday, Canaccord Genuity reiterated its Buy rating on Aspen Technology (NASDAQ: AZPN), and raised its price target from $32.00 to $34.00.

Canaccord Genuity noted, “While Aspen's revenue model transition is about 60% complete, investor attitudes have jumped forward to the admiration phase – and that means a multiple that is in line with other quality subscription, private cloud business models. While it seems unlikely to expect AZPN's multiple to expand meaningfully, there is no question in our view that that this is a best-in-class firm selling into an industry that, broadly speaking at least, is seeing meaningfully better fundamentals. In software, if your customers are prospering, you generally do as well. In this scenario, we expect AZPN shares to advance at least 15-20% in calendar 2013. Reiterate BUY.”

Aspen Technology closed on Tuesday at $28.49.

Latest Ratings for AZPN

Apr 2016JP MorganAssumesUnderweight
Apr 2016BenchmarkMaintainsHold
Feb 2016Avondale PartnersInitiates Coverage onMarket Perform

View More Analyst Ratings for AZPN
View the Latest Analyst Ratings

Posted-In: Canaccord GenuityAnalyst Color Price Target Analyst Ratings


Related Articles (AZPN)

View Comments and Join the Discussion!