Vertex price target lowered to $41 from $56 at BMO Capital

BMO Capital analyst Daniel Jester lowered the firm’s price target on Vertex (VERX) to $41 from $56 and keeps a Market Perform rating on the shares. The firm had previously indicated that shares had gotten ahead of what still appears to be an interesting long-term opportunity to drive durable growth, though the company’s mixed Q4 with smaller-than-expected upside, a miss on organic growth forecast, and a new FY25 growth guide that assumes annual recurring revenue improvement create a tougher near-term set-up, the analyst tells investors in a research note.