Nice downgraded to Neutral from Outperform at Wedbush (earlier)

Wedbush analyst Daniel Ives earlier today downgraded Nice (NICE) to Neutral from Outperform with a price target of $120, down from $170, as the company faces an increasingly competitive CX AI landscape while providing aggressive long-term targets introduced at its Capital Markets Day at the expense of near-term margins, which the firm views as a risky trade-off. With agentic AI set to be the backbone of nextgen CX technology, this industry is seeing a surge of new entrants and established technology providers, which Wedbush believes creates a more difficult path for Nice to capitalize with more AI agent optionality around call center operations.