Aspen Technology (AZPN) Shares Should Rise 15-20% This Year - Canaccord Genuity
Article
Related Press Releases (2)
Related Articles (2)
Related SEC Filings (1)
Stock Quotes (1)
Comments (0)
Tweet
Send to a Friend
Get Alerts AZPN Hot Sheet
Price: $29.85 +0.71%
Rating Summary:
8 Buy, 0 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 8 | Down: 12 | New: 30
Rating Summary:
8 Buy, 0 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 8 | Down: 12 | New: 30
Trade AZPN Now!
Canaccord Genuity boosted its price target on Buy-rated Aspen Technology (NASDAQ: AZPN) from $32 to $34 following Q2 results and outlook.
The firm comments, "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."
For an analyst ratings summary and ratings history on Aspen Technology click here. For more ratings news on Aspen Technology click here.
Shares of Aspen Technology closed at $28.49 yesterday, with a 52 week range of $17.80-$29.27.
Join StreetInsider.com FREE and get immediately alerted when news breaks on your stocks and other market items - JOIN NOW
*NEW - Download StreetInsider's FREE iPhone and iPad App - Click Here
The firm comments, "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."
For an analyst ratings summary and ratings history on Aspen Technology click here. For more ratings news on Aspen Technology click here.
Shares of Aspen Technology closed at $28.49 yesterday, with a 52 week range of $17.80-$29.27.
Join StreetInsider.com FREE and get immediately alerted when news breaks on your stocks and other market items - JOIN NOW
*NEW - Download StreetInsider's FREE iPhone and iPad App - Click Here
You May Also Be Interested In
- Morgan Stanley Maintains Bullish Stance on Walter Energy (WLT)
- Wells Fargo Cuts Comerica (CMA) and First Horizon National (FHN) to Underperform
- AcelRx (ACRX) Target Lifted at Jefferies
Create E-mail Alert Related Categories
Analyst Comments, Analyst EPS Change, Analyst EPS View, Analyst PT ChangeRelated Entities
Canaccord Genuity
Login with Facebook
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!
