Baird analyst Joe Vruwink upgraded Q2 Holdings to Outperform from Neutral with a price target of $70, down from $82. The firm says its latest survey of banks on technology spending are positive. AI relies upon context to create value, and Q2 is the system of context for banks, the analyst tells investors in a research note. Baird believes the stock has "absorbed high expectations" while the selloff from AI concerns appears "extreme." It likes Q2's risk/reward at current share levels.
