Jefferies analyst Trevor Williams initiated coverage of ACI Worldwide with a Buy rating and $38 price target. ACI has an enviable market position as a provider of mission-critical payments software to the largest banks globally, the analyst tells investors in a research note. The firm says the company’s growth is set to accelerate in fiscal 2024 and can sustain in the upper single-digits on the back of banks modernizing their payments systems and emerging growth drivers, which should support multiple expansion.
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Read More on ACIW:
- ACI Worldwide price target raised to $38 from $35 at Seaport Research
- ACI Worldwide price target raised to $39 from $37 at DA Davidson
- ACI Worldwide price target raised to $40 from $34 at Canaccord
- ACI Worldwide Enhances Financial Flexibility and Board Expertise
- ACI Worldwide sees Q1 revenue $300M-$310M, consensus $308.55M
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