Progress Software price target lowered to $45 from $50 at Jefferies

Core Viewpoint - Jefferies has lowered the price target for Progress Software (PRGS) to $45 from $50 while maintaining a Hold rating on the shares, indicating a cautious outlook on the company's growth potential in the AI sector [1] Group 1: Price Target and Rating - The price target for Progress Software has been reduced to $45 from $50 [1] - Jefferies maintains a Hold rating on Progress Software shares [1] Group 2: Growth Outlook - The firm anticipates that 2026 will be "another year of gradual AI monetization" [1] - More significant growth contributions and acceleration are necessary to alleviate fears of AI disintermediation [1] - The analyst suggests that investors may need to exercise patience as sector valuations return to historical averages [1]