JPMorgan initiated coverage of Bentley Systems (BSY) with a Neutral rating and $52 price target Bentley’s software specializes in horizontal infrastructure projects like roads, bridges, public utilities and is designed to support the entire construction lifecycle, addressing both project and asset management, the analyst tells investors in a research note. The firm likes the company’s long-term fundamentals but says it has faced challenges in showing meaningful growth acceleration. It sees limited catalysts for mid-term revenue tailwinds and finds the stock fairly priced.
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