Progress Software (PRGS) PT Raised to $70 at DA Davidson

DA Davidson analyst Lucky Schreiner raised the price target on Progress Software (NASDAQ: PRGS) to $70.00 (from $65.00) while maintaining a Buy rating.

The analyst comments "Progress delivered another good quarter highlighted by its recent announcement to acquire ShareFile. Since initiating on PRGS, we continue to believe the company can deliver strong inorganic growth while maintaining low organic growth and best-in-class margins. We reiterate our BUY rating and raise our price target to $70 from $65."

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