RBC Capital Downgrades Open Text to Sector Perform, Lowers Price Target to $33
Portfolio Pulse from Benzinga Newsdesk
RBC Capital has downgraded Open Text (NASDAQ:OTEX) from Outperform to Sector Perform and reduced its price target from $45 to $33.
November 01, 2024 | 3:23 pm
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RBC Capital has downgraded Open Text from Outperform to Sector Perform, reducing the price target from $45 to $33.
The downgrade from Outperform to Sector Perform by RBC Capital suggests a less optimistic view on Open Text's future performance. The significant reduction in the price target from $45 to $33 indicates potential downside risk, likely leading to a negative short-term impact on the stock price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100