DSGX - Descartes Systems upgraded at Stephens as pandemic tailwind drives value

Citing enhanced value proposition due to the pandemic tailwind, Stephens upgrades Descartes Systems (DSGX) from from Equal-Weight to Overweight and adds $10 to the price target for $70.Analyst Justin Long says DSGX logistics sector customers will prioritize implementing new technologies and automation, which increases confidence in the "magnitude and the duration" of the growth story.Long sees DSGX's long-term estimates as conservative for annual adjusted EBITDA growth and EBITDA margins.DSGX shares closed today up 4.2% to $55.90.Previously: Descartes Systems drops after soft Q2 EPS, margin miss (Sep. 10 2020)

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Descartes Systems upgraded at Stephens as pandemic tailwind drives value