Alliance Global Partners analyst Brian Kinstlinger upgraded Perficient (PRFT) to Buy from Neutral with a price target of $85, down from $100. Although the analyst expects the company’s revenue growth will slow, he still sees double-digit organic revenue growth “given the still solid demand for digital transformation services.” Accenture (ACN), one of Perficient’s largest competitors, highlighted that digital transformation is in the early stages and demand for these types of services remains strong. This is bullish for Perficient given it accounts for the majority of its business, Kinstlinger tells investors in a research note. He believes the shares are trading toward the low-end of the historical range and finds the stock’s risk/reward as favorable.
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