Fly News Breaks for July 25, 2019
Jul 25, 2019 | 05:11 EDT
Stifel analyst Adam Borg downgraded PTC to Hold from Buy and lowered his price target for the shares to $84 from $105. The analyst views the company's fiscal Q3 results as "disappointing" bookings below guidance, "weak" channel performance, slower than expected conversions to subscription from maintenance, and the pulled long-term outlook. This is PTC's third consecutive disappointing print, Borg tells investors in a research note. The analyst says he no longer has confidence and visibility into the company's execution in coming quarters.
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