Grid Dynamics price target raised to $18 from $17 at Northland

Northland raised the firm’s price target on Grid Dynamics (GDYN) to $18 from $17 and keeps an Outperform rating on the shares. The firm’s higher estimates are driven both by stronger Q3 organic performance and two recent accretive acquisitions, the analyst tells investors while adding that the company “continued its strong execution track record” in Q3.