RBC Capital has adjusted its outlook on Bentley Systems (BSY, Financial), lowering the target price from $61 to $53. Despite maintaining an Outperform rating, the firm is cautious about the near-term prospects due to ongoing uncertainty in the software market.
Analysts at RBC highlight that while the temporary suspension of reciprocal tariffs offers some immediate relief, it does not eliminate underlying uncertainties. The fluctuating discussions around tariffs have introduced unpredictability into software purchasing decisions, which were more straightforward a few months ago. According to RBC, the situation might have merely postponed inevitable challenges.
In light of these concerns, RBC Capital has opted to take a conservative stance by revising its estimates for Bentley Systems. Although they still see potential buying opportunities, the firm emphasizes the difficulty of making confident predictions until more stable economic indicators appear. This strategic adjustment reflects RBC’s cautious approach amidst broader market volatility.
