FICO price target lowered to $2,175 from $2,275 at Jefferies

Jefferies analyst Surinder Thind lowered the firm’s price target on FICO (FICO) to $2,175 from $2,275 and keeps a Buy rating on the shares after fiscal Q1 results missed expectations on lower-than-anticipated mortgage volumes in Scores and muted ARR growth in Software. This will lead to some debate about the state of fundamentals, but the firm views any potential weakness as an opportunity as it argues that guidance remains “highly achievable.”