OpenText price target lowered to $36 from $38 at Citi
Citi lowered the firm’s price target on OpenText (OTEX) to $36 from $38 and keeps a Neutral rating on the shares. The firm adjusted models in the application software group after catching up with managements. Companies are facing a stable but uncertain demand environment, with some relief from the reopening of the U.S. government, the analyst tells investors in a research note. Citi names Pegasystems (PEGA) its new top pick, saying the company is the leader in artificial intelligence monetization. It also likes the growth opportunities at Blackline (BL) and Workiva (WK).
Claim 70% Off TipRanks This Holiday Season
- Unlock hedge-fund level data and powerful investing tools for smarter, sharper decisions
- Stay ahead of the market with the latest news and analysis and maximize your portfolio's potential
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on OTEX:
Disclaimer & DisclosureReport an Issue
- OpenText files automatic mixed securities shelf
- OpenText Shareholders Approve Shareholder Rights Plan
- AI Daily: Musk’s xAI in talks to raise $15B at $230B valuation
- OpenText expands partnership with Google Cloud to deliver AI solutions
- Open Text: Hold Rating Amid Strategic Transition and Market Uncertainties
This article contains syndicated content. We have not reviewed, approved, or endorsed the content, and may receive compensation for placement of the content on this site. For more information please view the Barchart Disclosure Policy here.
This section contains press releases and other materials from third parties (including paid content). The Globe and Mail has not reviewed this content. Please see disclaimer.