Par Technology price target raised to $92 from $69 at Benchmark

Benchmark raised the firm’s price target on Par Technology (PAR) to $92 from $69 and keeps a Buy rating on the shares. The achievement of adjusted EBITDA profitability in Q3 was “an important milestone,” the analyst tells investors. While Par has clearly demonstrated the attractiveness of its unified technology platform to enterprise foodservice customers, the firm believes profitability “represents an important element that will allow the company to accelerate its growth, and to thereby provide the impetus for additional share price appreciation,” the analyst added.