As previously reported, Wedbush analyst Steve Koenig upgraded Aspen Technology to Outperform from Neutral on accelerating annual spend by customers, declining attrition as the engineering and construction business improves, continued double-digit growth in manufacturing, and traction with asset performance management initiative against modest and achievable goals. The analyst believes the current expectation for flat year over year revenue results now looks reasonable and expects the company to be able to accelerate annual spend solidly into double digits in 2020/June, and continue to improve this metric in the out-years. Valuation looks fair to moderately attractive and leaves room for solid stock performance on annual spend acceleration, potential free cash flow margin expansion, and continued share repurchases, he adds. The analyst also raised his price target on the shares to $131 from $104.