PTC (PTC): Raising PT On 3 Value Drivers - Wedbush
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Wedbush analyst, Steve Koenig, reiterated his Outperform rating on shares of PTC Inc. (NASDAQ: PTC) and raised his price target to $52 from $46.
The analyst sees three important value drivers for PTC shares: 1) PTC’s subscription transition looks likely to be more powerful than indicated by its current long-term guidance; 2) execution improvements under the new core business leadership appear to be taking root; and 3) growing relevance in IoT and augmented/virtual reality for the enterprise are helping to drive higher level engagement with customers and partners.
The company plans to announce results on Wednesday, October 26, with a conference call at 5pm ET.
Shares of PTC Inc. closed at $45.98 yesterday.
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