Raymond James analyst Alexander Sklar initiated coverage of Vertex with an Outperform rating and $19 price target. Shares offer a compelling combination of a leading indirect tax solution, a healthy growth/profitability profile, a defensive model, and a reasonable valuation, the analyst tells investors in a research note. Raymond James believes Vertex should continue to benefit from a complex indirect tax market that is likely to only get more challenging with changing government regulations and business model shifts.
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Published first on TheFly
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Read More on VERX:
- Vertex initiated with an Outperform at Raymond James
- Vertex 2022 Sales Tax Rates and Rules Report: Decline in Rate Changes Belies Increases Across Most Jurisdictions
- Vertex downgraded to Hold from Buy at Jefferies
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