NICE Systems Ltd (NICE) PT Raised to $260 at Jefferies

Jefferies analyst Samad Samana raised the price target on NICE Systems Ltd (NASDAQ: NICE) to $260.00 (from $225.00) while maintaining a Buy rating following beat.

The analyst commented, "NICE beat consensus for total rev and EPS due to Product and Service rev. Cloud rev fell a touch short. Mgmt raised the FY22 total rev and EPS outlook by more than the beat, but only maintained the Cloud rev outlook (+27% y/y). We believe NICE's relative outperformance YTD, the lower-quality source of upside, and the lack of upside on Cloud rev account for today's modest downtick in the stock despite the solid results. We remain positive, raise PT to $260."

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