PTC (PTC): Raising PT On 3 Value Drivers - Wedbush

October 11, 2016 7:34 AM EDT
Get Alerts PTC Hot Sheet
Price: $52.11 +3.19%

Rating Summary:
    12 Buy, 0 Hold, 0 Sell

Rating Trend: = Flat

Today's Overall Ratings:
    Up: 18 | Down: 18 | New: 11
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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.

For an analyst ratings summary and ratings history on PTC Inc. click here. For more ratings news on PTC Inc. click here.

Shares of PTC Inc. closed at $45.98 yesterday.

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