Cerence price target raised to $11 from $10 at Goldman Sachs

Goldman Sachs raised the firm’s price target on Cerence (CRNC) to $11 from $10 and keeps a Neutral rating on the shares. Cerence posted a solid quarter, beating revenue and EBITDA expectations and issuing FY26 guidance boosted by a sizable legal settlement, while core metrics like pricing per unit and expected 8% FY26 core growth showed constructive traction, the analyst tells investors in a research note. Backlog and penetration rates remain flat, and Goldman says it wants to see clearer evidence of sustained core-business acceleration, potentially via new xUI wins.