BNP Paribas sets a $40 price target for BSY, citing defensibility against AI competition and low software penetration in core markets.
BNP Paribas initiated coverage of Bentley Systems (NASDAQ:BSY) with an Outperform rating and a $40 price target on June 18, 2026. Analyst Andrew DeGasperi highlighted the company’s strong defensibility against AI competition, driven by low software penetration in civil infrastructure, energy exploration, and resource mining sectors.
Bentley Systems, which develops infrastructure engineering software, has seen about 80% of covering analysts maintain bullish ratings despite a nearly 20% decline in 2026. BofA also reinstated coverage at Buy with a $40 target, emphasizing structural barriers like compliance requirements and deterministic workflows supporting its premium valuation.
The firm’s integrated software solutions serve professional disciplines across infrastructure sectors, offering resilience amid broader tech volatility.