Canaccord Genuity Reiterates a 'Buy' on ANSYS (ANSS); Solid Bet On The Long-Term
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Price: $76.44 +0.49%
Rating Summary:
3 Buy, 11 Hold, 0 Sell
Rating Trend:
Down
Today's Overall Ratings:
Up: 11 | Down: 35 | New: 23
Rating Summary:
3 Buy, 11 Hold, 0 Sell
Rating Trend:
Down
Today's Overall Ratings:
Up: 11 | Down: 35 | New: 23
Trade ANSS Now!
Canaccord Genuity reiterates a 'Buy' on ANSYS (NASDAQ: ANSS) price target raised from $72 to $75.
Analyst, Richard Davis, said, "One of three big themes in software on which we are bullish is the renaissance in industrial software (others are the Social Marketing Ecosystem & Next Generation Tools, but those are follow-up reports). This means helping manufacturing organizations save money through process automation. ANSS, as the leader in simulation-led design or “virtual prototyping,” stands to be a major beneficiary of this trend. From an investment standpoint, ANSS shares are trading at ~20x our C2013 estimate, which is in the lower third of a trading range that we believe to be 17x-27x. By layering modest multiple expansion on top of mid-teens earning growth, we see little reason why ANSS will not be a mid-$70s stock in a year from now."
For an analyst ratings summary and ratings history on ANSYS click here. For more ratings news on ANSYS click here.
Shares of ANSYS closed at $66.08 yesterday, with a 52 week range of $45.72-$66.69.
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Analyst, Richard Davis, said, "One of three big themes in software on which we are bullish is the renaissance in industrial software (others are the Social Marketing Ecosystem & Next Generation Tools, but those are follow-up reports). This means helping manufacturing organizations save money through process automation. ANSS, as the leader in simulation-led design or “virtual prototyping,” stands to be a major beneficiary of this trend. From an investment standpoint, ANSS shares are trading at ~20x our C2013 estimate, which is in the lower third of a trading range that we believe to be 17x-27x. By layering modest multiple expansion on top of mid-teens earning growth, we see little reason why ANSS will not be a mid-$70s stock in a year from now."
For an analyst ratings summary and ratings history on ANSYS click here. For more ratings news on ANSYS click here.
Shares of ANSYS closed at $66.08 yesterday, with a 52 week range of $45.72-$66.69.
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
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