DA Davidson analyst Peter Heckmann upgraded Envestnet to Buy with a price target of $67, saying the stock is offering an "attractive" risk-reward setup over the coming year following a 20% pullback in shares after its Q2 update. The analyst notes that the management has attributed the underperformance to the headwinds around the dispute with the company's credit decisioning technology partner, which led to a suspension of work, along with a weaker than anticipated demand for datastreams from investment management clients and a delay in conversion of a "sizeable new business". Heckmann further states that the management expects all of these headwinds to be resolved in the near term.