CCC Intelligent Solutions resumed with a Buy at BofA

BofA resumed coverage of CCC Intelligent Solutions (CCCS) with a Buy rating and price target of $14, down from $15. The company reported mostly in line Q4 results, but issued implied organic revenue growth that was towards the bottom of its long-term growth framework of 7%-10%, the analyst tells investors in a research note. However, the firm says CCC’s commentary on and utilization trends from early adopters of its artificial intelligence offerings constructive, suggesting that accelerating sales contribution is more of a “when” than an “if.”