Par Technology price target raised to $90 from $60 at Jefferies

Jefferies analyst Samad Samana raised the firm’s price target on Par Technology (PAR) to $90 from $60 and keeps a Buy rating on the shares. The company’s Q3 beat expectations on total revenue and EBITDA while annual recurring revenue grew 25% on an organic basis driven by strong momentum in both Operator and Engagement Cloud, the analyst tells investors in a research note. The firm sees Par’s Q3 as “another strong quarter in the books” with the company executing on multiple growth initiatives.