JPMorgan analyst Sterling Auty noted that PTC updated its long-term financial expectations, essentially pulling forward its FY21 targets to FY20. The company now expects $1.6B in revenue and free cash flow of $450M in FY20 instead of by FY21, Auty added. The company's updated view of bookings growth and revenue acceleration are better than originally forecast and the compression of margins due to the subscription transition is starting to trough, said the analyst, who raised his price target on PTC to $60 from $52 and keeps an Overweight rating on the shares.