IBEX Downgraded After Dismal 4Q Results, Analyst Expects Macro Woes To Persist
Portfolio Pulse from Nabaparna Bhattacharya
RBC Capital Markets analyst Daniel R. Perlin has downgraded IBEX Limited (NASDAQ:IBEX) to Sector Perform from Outperform, lowering the price target to $18 from $27. This follows a disappointing Q4 for IBEX, with earnings missing estimates due to a challenging macro-environment. The analyst adjusted FY24 revenue and EBITDA estimates to $528 million and $68 million, respectively, lower than previous estimates. IBEX shares are trading lower by 25.10% to $13.60.
September 14, 2023 | 6:22 pm
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IBEX Limited has been downgraded by RBC Capital Markets following disappointing Q4 results. The price target has been lowered to $18 from $27.
The downgrade by RBC Capital Markets and the lowering of the price target is a negative signal for the stock. This, combined with the disappointing Q4 results, is likely to put downward pressure on the stock in the short term.
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