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Manhattan Associates price target lowered to $184 from $244 at Citi

Manhattan Associates price target lowered to $184 from $244 at Citi

Citi lowered the firm’s price target on Manhattan Associates (MANH) to $184 from $244 and keeps a Neutral rating on the shares. The firm says that it is re-assessing Manhattan’s risk/reward framework following a “disappointing” Q4 report and “surprise” CEO transition announcement. The reduced price target better accounts for near-term execution risk and the reset valuation environment, the analyst tells investors in a research note.

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