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Fly News Breaks for May 30, 2019
DSGX
May 30, 2019 | 09:01 EDT
BMO Capital analyst Thanos Moschopoulos raised his price target on Descartes Systems to $43, saying its Q1 results and Q2 outlook were better than expected. The analyst is positive on the "growing breadth" of the company's portfolio and the management's execution of its strategy. Moschopoulos maintains his Market Perform rating on Descartes Systems however, noting that while the company can continue to generate 10%-15% adjusted EBITDA growth over the long term, it is already priced at a premium valuation relative to other software consolidators.
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