Guidewire price target raised to $210 from $170 at JPMorgan

JPMorgan raised the firm’s price target on Guidewire to $210 from $170 and keeps an Overweight rating on the shares. The firm says the insurance industry has been “relatively defensive” over the past year, as higher premiums have gradually trickled down to insurance software, which have been beneficiaries of this expanded budget. The analyst sees both industry and company-specific tailwinds supporting Guidewire into its next fiscal year. The company appears able to capture mid-to-high teens growth given acceleration from its cloud transition and market share gains, the analyst tells investors in a research note.