UBS initiated coverage of OpenText (OTEX) with a Neutral rating and $32 price target While the company’s customer satisfaction appears high with current products, channel checks point to mostly flat renewals and UBS is not as confident in the near-term revenue growth trajectory, the analyst tells investors in a research note. The firm says Open Text’s valuation “looks reasonable but not compelling.”
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Read More on OTEX:
- OpenText announces strategic partnership with Secure Code Warrior
- OpenText Appoints New Board Member for Strategic Growth
- OpenText price target lowered to $35 from $40 at Scotiabank
- OpenText price target lowered to $34 from $36 at Barclays
- OpenText downgraded to Sector Perform from Outperform at RBC Capital
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
