Pacific Crest Starts PTC, Inc. (PTC) at Overweight

Pacific Crest initiated coverage on PTC, Inc. (NASDAQ: PTC) with an Overweight rating and a price target of $40. Analyst Monika Garg sees an attractive entry point given recent weakness.

"PTC has leadership positions in the CAD and PLM markets, with strong growth opportunities in SLM and IoT. PTC has many margin-expansion opportunities, and is moving toward a subscription model, which would drive 20% to 40% higher value from its customer base. The stock is down 25% in last couple of months and offers an attractive entry point," said Garg.

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 $33.84 yesterday.

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