RBC Capital Maintains Outperform Rating for Open Text: Here's What You Need To Know
Portfolio Pulse from Benzinga Insights
RBC Capital has reaffirmed its Outperform rating on Open Text (NASDAQ:OTEX) and increased its price target from $50.00 to $53.00. Open Text's shares are currently trading at $40.67, and the new price target suggests a potential upside of 30.32%. Open Text specializes in information management solutions and originated from a project at the University of Waterloo.
November 30, 2023 | 5:00 pm
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RBC Capital maintains its Outperform rating on Open Text and raises the price target to $53, suggesting a significant upside from the current price.
The reaffirmation of the Outperform rating and the increase in price target by RBC Capital are strong positive signals for investors, indicating analyst confidence in Open Text's future performance. This could lead to increased investor interest and a potential short-term rise in the stock price.
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IMPORTANCE 85
RELEVANCE 100