Perficient upgraded to Buy from Neutral at Alliance Global Partners

Alliance Global Partners analyst Brian Kinstlinger upgraded Perficient to Buy from Neutral with a $67 price target. Many of the systems integrators’ management teams, including Perficient, reported in February that demand was showing signs of improvement, the analyst tells investors in a research note. The firm says Perficient is now trading toward the low-end of its historical valuation range based on adjusted earnings. Given its “generally high visibility” to revenue, Alliance believes the stock’s risk/reward profile is very favorable, “even if there are marginal shortfalls to consensus in the next few quarters.”