RBC Upgrades NICE To Outperform From Sector Perform, New Target Price Implies 18% Upside

RBC Capital analyst Rishi Jaluria upgraded NICE Ltd NICE to Outperform rating from Sector Perform. RBC raised the price target to $300 from $266.
The price target signifies a 17.8% upside to current levels.
Jaluria considered contact center in the "early innings" as a service adoption. Additionally, Nice's CXone cloud contact center platform had "differentiated itself."
Nice's total revenue growth should accelerate to sustained double-digit organic growth, and its margins have room to expand, Jaluria's research note stated.
Jaluria viewed the shares as "compellingly valued at current levels.
The stock gained 17.9% in the last month.
Price action: NICE shares traded higher by 1% at $255.21 premarket on the last check Wednesday.

Momentum19.37

Growth53.30

Quality60.94

Value55.11

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