Scotiabank Maintains Sector Perform on Open Text, Lowers Price Target to $35
Portfolio Pulse from Benzinga Newsdesk
Scotiabank analyst Kevin Krishnaratne maintains a Sector Perform rating on Open Text (NASDAQ:OTEX) but lowers the price target from $40 to $35.
November 01, 2024 | 2:43 pm
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Scotiabank has maintained its Sector Perform rating on Open Text but has lowered the price target from $40 to $35, indicating a more cautious outlook.
The lowering of the price target by Scotiabank suggests a less optimistic view on Open Text's short-term performance, which could lead to a negative impact on the stock price. The maintained Sector Perform rating indicates that the stock is expected to perform in line with the sector, but the reduced price target reflects potential challenges or lower growth expectations.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100