Canaccord analyst David Hynes lowered the firm’s price target on C3 AI (AI) to $7 from $16 and keeps a Hold rating on the shares. The firm said its Q3 results were far worse than expected and the company announced a restructuring plan targeting roughly $135M in annualized non-GAAP opex savings, but cost cuts alone cannot fix a revenue trajectory that has yet to find a floor.
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