BMO Capital has reduced its price target for PTC Inc. (NASDAQ:PTC) to $189 from $219, while maintaining an Outperform rating, following the company’s first-quarter results. Despite the lower target, PTC is trading below its Fair Value according to InvestingPro data, and BMO Capital is reassured by PTC’s sustained profitability, strong gross profit margins, revenue growth, and plans for share repurchases. The firm remains confident in PTC’s strategy to modernize CAD, data management, and life-cycle solutions for manufacturers, viewing current share prices as multi-year lows based on free cash flow multiples.
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BMO Capital lowers PTC stock price target to $189 on 1Q results
BMO Capital has reduced its price target for PTC Inc. (NASDAQ:PTC) to $189 from $219, while maintaining an Outperform rating, following the company’s first-quarter results. Despite the lower target, PTC is trading below its Fair Value according to InvestingPro data, and BMO Capital is reassured by PTC’s sustained profitability, strong gross profit margins, revenue growth, and plans for share repurchases. The firm remains confident in PTC’s strategy to modernize CAD, data management, and life-cycle solutions for manufacturers, viewing current share prices as multi-year lows based on free cash flow multiples.