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.
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