Piper Sandler analyst Clarke Jeffries last night upgraded Bentley Systems to Overweight from Neutral with a price target of $45, up from $42. The firm says Resources is "becoming a real growth engine" for Bentley in 2026. The 2.5% constant currency sequential annual currying revenue growth in Q1 is "demonstrating the tailwinds" from Bentley's Seequent business, the analyst tells investors in a research note. Piper also believes other overhangs on Bentley's fundamentals last year, such as headwinds to IBM Maximo implementations, are "thawing" with services expected to rebound by 15%-20% growth in 2026.
