Vertex price target raised to $28 from $24 at BMO Capital

BMO Capital raised the firm’s price target on Vertex to $28 from $24 and keeps a Market Perform rating on the shares. The analyst cites the company’s Q3 earnings beat and guidance raise, while also noting that its deployment flexibility and medium-term tailwinds from ERP platform evolution are supportive trends as companies modernize their tax software solutions. BMO adds that it continues to see moderate margin expansion as Vertex looks to drive more efficient growth.