Stifel raised the firm’s price target on Enfusion (ENFN) to $11 from $10 and keeps a Buy rating on the shares following third quarter results. New client wins and front book performance were the “story of the quarter, with a healthy mix” of bookings from launches and conversions, according to Stifel. The firm added that back book performance continued to face some headwinds but should improve in 2025 and beyond as a result of new product and service launches, pricing actions, and certain macro factors easing. Stifel told investors that it continues to believe Enfusion is” well positioned to offer a solid balance of healthy growth and profitability,” and current valuation remains “attractive”.
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