BMO Capital Downgrades Open Text to Market Perform, Lowers Price Target to $38
Portfolio Pulse from Benzinga Newsdesk
BMO Capital analyst Thanos Moschopoulos downgrades Open Text (NASDAQ:OTEX) from Outperform to Market Perform and lowers the price target from $50 to $38.
May 03, 2024 | 9:22 am
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BMO Capital downgraded Open Text from Outperform to Market Perform and reduced the price target from $50 to $38.
The downgrade by BMO Capital from Outperform to Market Perform, coupled with a significant reduction in the price target, suggests a bearish outlook on the stock. This could lead to a negative short-term impact on Open Text's stock price as market sentiment adjusts to the new analyst rating and price target.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100