BUZZ-Guggenheim raises PT for Smartsheet; says can beat forecast throughout year

Reuters · 08/30 11:40
BUZZ-Guggenheim raises PT for Smartsheet; says can beat forecast throughout year

** Guggenheim raises work management firm Smartsheet's SMAR.N price target to $60 from $56; maintains "buy" rating

** Brokerage says co can beat forecast throughout the year, but with little room to raise estimates along the way, unless business momentum improves

** Brokerage also believes that Smartsheet's "idiosyncratic factors" could help it current demand backdrop

** 17 of 21 brokerages rate the stock "buy" or higher, 3 "hold" and 1 "sell"; their median PT is $55 - LSEG data

** YTD, SMAR up 2.20% as of last close


(Reporting by Anshuman Tripathy in Bengaluru)

((Anshuman.Tripathy@thomsonreuters.com;))