DA Davidson analyst Peter Heckmann initiated Tyler Technologies with a Neutral rating and a price target of $190. Heckmann states that while Tyler is a "high-quality company with a strong long-term track record of revenue and earnings growth" poised to continue to generate cash flow, its forward multiple is now at a high end of its long-term range. Over the 5-year time frame, the analyst is more positive on the company's prospects as one of the leaders among the automation software solutions providers with a $300 price target.
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