Ibex downgraded to Neutral from Outperform at Baird

Baird analyst David Koning downgraded Ibex (IBEX) to Neutral from Outperform with an unchanged price target of $30. The firm views the stock’s risk/reward as balanced following a “very strong valuation re-rating over the past year.” Ibex has executed very well, returning to double-digit growth in the March quarter, but the stock’s risk/reward is balanced, the analyst tells investors in a research note.