Vertex price target raised to $52 from $41 at Stifel

Stifel raised the firm’s price target on Vertex (VERX) to $52 from $41 and keeps a Buy rating on the shares following what the firm calls “strong 3Q results across the board.” Management expects sustained tailwinds from an emerging SAP (SAP) and Oracle (ORCL) Cloud ERP upgrade “super-cycle” and global e-invoicing regulations, notes the firm, which believes this positions Vertex to sustain consistent, mid-teens revenue growth and improving profitability.