BofA lowered the firm’s price target on Concentrix (CNXC) to $54 from $61 and keeps a Neutral rating on the shares. The company reported a sales beat in Q3 but its operating margin missed estimates on lower volumes, the analyst tells investors in a research note. The firm believes Concentrix’s generative artificial intelligence based tools and synergies from the Webhelp acquisition are helping offset macro headwinds.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on CNXC:
- Concentrix price target lowered to $62 from $75 at Baird
- Morning News Wrap-Up: Friday’s Biggest Stock Market Stories!
- Concentrix falls -9.8%
- Trump threatens new tariffs on drugs, kitchen cabinets, trucks: Morning Buzz
- Concentrix falls -10.4%