William Blair upgrades Manhattan Associates on attractive entry point

William Blair analyst Dylan Becker upgraded Manhattan Associates (MANH) to Outperform from Market Perform without a price target The firm says its cloud model analysis and additional color on the CEO transition suggest “attractive long-term upside” in the shares. Manhattan conducted a search over more than two years to find a logical successor to retiring CEO Eddie Capel, setting the business up for sustained momentum as it continues to push forward its cloud model transition, the analyst tells investors in a research note. Blair believes the recent pullback in the shares presents an attractive entry point for long-term holders.