Par Technology price target raised to $83 from $70 at Stephens

Stephens raised the firm’s price target on Par Technology (PAR) to $83 from $70 and keeps an Overweight rating on the shares. The company’s Q3 results reflected strong execution, with 25% organic ARR growth, 28% organic subscription growth, and the attainment of positive adjusted EBITDA, the analyst tells investors in a research note. The firm added that request for proposal activity remains robust, with an increasing number of enterprise restaurants exploring a shift from on-premises to cloud infrastructure.