Tyler Technologies price target raised to $685 from $600 at Truist

Truist analyst Terry Tillman raised the firm’s price target on Tyler Technologies (TYL) to $685 from $600 and keeps a Buy rating on the shares. The company reported strong Q3 with highlights that included growing cloud momentum amongst new and existing customers, a variety of large key customer wins, and impressive profit and free cash flow generation versus estimates, the analyst tells investors in a research note. Tyler management further indicated that public sector demand remains robust, and that the company is successfully leveraging the large installed base to drive strategic cross-sell and upsell activity, Truist added.