DA Davidson raised the firm’s price target on SS&C to $88 from $84 and keeps a Buy rating on the shares. The company’s Q2 earnings beat was highlighted by an acceleration of organic growth to 6.4%, and the management nudged the midpoints of their prior 2024 guidance a bit higher, the analyst tells investors in a research note. Over the next 2-3 years, SS&C should be able to generate 4%-6% organic revenue growth annually and supplement that with acquisitions, the firm added.
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Read More on SSNC:
- SS&C price target raised to $75 from $72 at RBC Capital
- SS&C raises FY24 EPS view to $4.98-$5.22 from $4.93-$5.17
- SS&C sees Q3 EPS $1.21-$1.27, consensus $1.27
- SS&C Technologies Releases Q2 2024 Earnings Results, Announces $1 Billion Common Stock Repurchase Program
- SS&C announces $1B common stock repurchase program
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