Wells Fargo raised the firm’s price target on Tyler Technologies (TYL) to $670 from $600 and keeps an Overweight rating on the shares. Tyler increased 2024 free cash flow margin guidance by 3 percentage points despite in-line revenue results, the analyst tells investors in a research note. Tyler has proven able to generate free cash flow well-above the prior 2025 target with the 2024 revised guidance of 22% on cloud efficiency initiatives, supporting confidence in the path to the 24% free cash flow margin in 2027, Wells Fargo says.
Pick the best stocks and maximize your portfolio:
- Discover top-rated stocks from highly ranked analysts with Analyst Top Stocks!
- Easily identify outperforming stocks and invest smarter with Top Smart Score Stocks
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on TYL:
- Tyler Technologies price target raised to $700 from $625 at Oppenheimer
- Tyler Technologies price target raised to $700 from $625 at Baird
- Tyler Technologies price target raised to $705 from $700 at Barclays
- Closing Bell Movers: Tesla gains 12% as Q3 earnings beat estimates
- Tyler Technologies raises FY24 EPS view to $9.47-$9.62, consensus $9.37