JPMorgan analyst Jackson Ader raised his price target for Model N to $25 from $21 saying the company's key metrics of revenue, adjusted EBITDA, cash flow and earnings outperformed in fiscal Q3. The analyst, however, does expect some disappointment in the preliminary outlook management provided which is for very high single digit growth next year. The Street was expecting low double digits, Ader tells investors in a research note. The analyst says Model N's legacy maintenance revenue is "proving to be a more significant headwind" to overall growth than he had previously anticipated. He keeps a Neutral rating on Model N shares.