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.
TipRanks Cyber Monday Sale
- Claim 60% off TipRanks Premium for data-backed insights and research tools you need to invest with confidence.
- Subscribe to TipRanks' Smart Investor Picks and see our data in action through our high-performing model portfolio - now also 60% off
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%