Benzinga | Jul 7, 2021 08:34AM EDT

RBC Upgrades NICE To Outperform From Sector Perform, New Target Price Implies 18% Upside

* RBC Capital analyst Rishi Jaluria upgraded NICE Ltd (NASDAQ:NICE) to Outperform rating from Sector Perform. RBC raised the price target to $300 from $266.

* The price target signifies a 17.8% upside to current levels.

* Jaluria considered contact center in the "early innings" as a service adoption. Additionally, Nice's CXone cloud contact center platform had "differentiated itself."

* Nice's total revenue growth should accelerate to sustained double-digit organic growth, and its margins have room to expand, Jaluria's research note stated.

* Jaluria viewed the shares as "compellingly valued at current levels.

* The stock gained 17.9% in the last month.

* Price action: NICE shares traded higher by 1% at $255.21 premarket on the last check Wednesday.