KeyBanc raised the price target on AvidXchange (AVDX) to $13 from $12 and keeps an Overweight rating on the shares following the firm’s second half of 2024 CIO Survey, which is positive but not overwhelmingly so. KeyBanc exits the survey positive on AvidXchange as it observes greater momentum in back-office SaaS migration, though its enthusiasm is tempered a bit recognizing where AP/AR stacks up vs. other back-office project priorities.
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