Vertex price target lowered to $24 from $34 at BofA

Summary of Key Points Core Viewpoint - BofA has lowered the price target for Vertex (VERX) to $24 from $34, maintaining a Neutral rating due to a disappointing Q4 outlook [1]. Company Performance - The implied growth rate for Q4 is projected at 9%, which is at the low end of the industry growth range of 8% to 12% [1]. - The firm suggests that the acceleration of growth is dependent on the success of cross-selling the e-invoicing offering [1].