ACI Worldwide downgraded to Neutral from Buy at DA Davidson

DA Davidson downgraded ACI Worldwide (ACIW) to Neutral from Buy with a price target of $60, up from $57, post the Q3 report. While ACI is on a better track for higher growth with strong margins over the next few years, a large portion of the improved outlook is reflected in the 140% move in the shares over the last year, the analyst tells investors in a research note. The firm cites valuation for the downgrade.