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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NEGATIVE IMPACT
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.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100