Wedbush analyst Steve Koenig upgraded Ansys (ANSS) to Outperform from Neutral, citing valuation pullback, the likely restart of share buybacks and revenue opportunities from a new partnership with PTC (PTC), telling investors in a research note that he has been waiting for a pullback to create an "attractive" entry point on the name. At the current valuation, Koening says risk/reward looks tilted up and adds that potential catalysts include the likely restart of share repurchases following an acquisition-related hiatus, the coming introduction of an innovative offering with PTC that embeds simulation functionality in an enterprise-grade CAD tool, and continued improvement in enterprise execution leading to a sustained double-digit growth outlook by FY19 or FY20. The analyst raises his price target for Ansys to $184 from $180.