UPDATE: Rosenblatt Starts Altair Engineering (ALTR) at Buy
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Rosenblatt analyst Blair Abernethy initiates coverage on Altair Engineering (NASDAQ: ALTR) with a Buy rating and a price target of $79.00.
The analyst comments "We are initiating coverage of Altair with a Buy rating and 12-month target price of $79. In our view, Altair is successfully expanding beyond its core engineering simulation business to deliver above-market revenue growth while pursuing an expanded Total Addressable Market (TAM). The Company is combining its unique business model, which lowers the barriers to cross-selling and product adoption, with the emerging convergence of simulation, cloud-based High Performance Computing (HPC) and analytics/AI/ML. At current stock price levels, we view Altair’s stock as attractively valued."
Shares of Altair Engineering closed at $68.05 yesterday.
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