AZPN - Aspen Technology: Long-Term Bullish Despite Near-Term Refinery Headwinds
- As I have been reporting on Seeking Alpha, Aspen Technology is arguably the global leader in process automation/optimization software.
- Recently, the company has begun integrating its new "AIoT Hub" technology into its asset optimization software - and that bodes well for the future.
- However, calendar Q2 earnings were a significant miss due to the polar vortex's impact on the refining sector, pointing out a weakness in Aspen's portfolio dependence.
- While I am still a long-term bull on Aspen, near-term the shares appear fully-valued considering the continuing and significant headwinds the pandemic is having on the refining sector.
- As a result, I am changing my rating on AZPN from BUY to HOLD.
For further details see:
Aspen Technology: Long-Term Bullish Despite Near-Term Refinery Headwinds