ACI Worldwide price target raised to $48 from $42 at DA Davidson

DA Davidson analyst Peter Heckmann raised the firm’s price target on ACI Worldwide to $48 from $42 and keeps a Buy rating on the shares ahead of its Q2 results. The firm is adjusting its valuation framework onto its 2026 forecasts while also noting that the company is executing on the correct strategy to maintain their strong market position in the payments software niche and upgrading their technology in select areas, the analyst tells investors in a research note. Over the next two years, the firm is modeling 5%-7% organic revenue growth, with the revenue mix continuing to shift to recurring revenue, DA Davidson added.