Nice price target lowered to $170 from $200 at Citizens

Citizens lowered the firm’s price target on Nice (NICE) to $170 from $200 and keeps an Outperform rating on the shares. Nice is facing some renewal pressure as reflected in weaker Cloud net recurring revenue, but the long-term investment case remains supported by rapid AI annual recurring revenue growth, efforts to secure longer-term customer commitments, potential value realization from non-core asset monetization such as Actimize, exposure to a large and expanding CX and agentic AI market, and optionality from its status as a potential strategic acquisition target, the analyst tells investors in a research note.