Citi Trims Progress Software (PRGS) PT to $54, Maintains Buy Rating

Earlier connected January 5, Jefferies lowered its terms people for Progress Software from $50 to $45 portion maintaining a Hold rating. This determination was made arsenic the steadfast cited a cautious outlook for 2026. Jefferies anticipates the twelvemonth volition beryllium characterized by gradual AI monetization and emphasized that important maturation acceleration is indispensable to alleviate concerns regarding AI disintermediation.

As assemblage valuations align with humanities averages, Jefferies advised capitalist patience and a much selective approach. However, the steadfast remains assured that semipermanent worth volition yet accrue wrong the bundle layer.

Progress Software Corporation (NASDAQ:PRGS) provides bundle products that develop, deploy, and negociate AI powered applications and integer experiences successful the US and internationally.

While we admit the imaginable of PRGS arsenic an investment, we judge definite AI stocks connection greater upside imaginable and transportation little downside risk. If you’re looking for an highly undervalued AI banal that besides stands to payment importantly from Trump-era tariffs and the onshoring trend, spot our escaped study connected the best short-term AI stock.

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Disclosure: None. This nonfiction is primitively published at Insider Monkey.