ACI Worldwide (ACIW) PT Raised to $57 at DA Davidson

DA Davidson analyst Peter Heckmann raised the price target on ACI Worldwide (NASDAQ: ACIW) to $57.00 (from $52.00) while maintaining a Buy rating.

The analyst comments "We anticipate ACI Worldwide will report 3Q results the week of November 4th. We expect the company will meet or modestly exceed our forecasts and we expect management will affirm (or modestly fine-tune) their financial guidance ranges for 2024. We are maintaining our BUY rating on ACI and nudging our price target to $57 (from $52). Given the big move in the shares that has pushed the valuation towards the high-end of the ten-year valuation range, we plan to review our forecasts, valuation framework and rating following the 3Q report."

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