TD Cowen analyst Itay Michaeli raised the firm’s price target on Cerence (CRNC) to $11 from $10 and keeps a Hold rating on the shares. The firm notes Cerence reported a Q3 beat and raised FY25 guidance. New business progress was encouraging including an xUI deal within the VW Group. TD Cowen remains constructive on the GenAI penetration story and Cerence’s positioning.
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