The company has competitive advantages that make it likely to perform well despite an economic downturn.
Bentley Systems is expected to continue performing well as demand for civil engineering services bucks broader trends, Goldman Sachs says. Analyst Kash Rangan upgraded the stock to buy from neutral and upped his price target to $44, which implies an upside of 27.8% from Wednesday’s close. He said Bentley is poised to outperform even in a « more turbulent economic environment. » « Bentley is, in our view, a unique software franchise and is poised to continue to gain share in the large Infrastructure Engineering Design market, » he said in a note to clients. Software companies have struggled in recent months as earnings have slid.
