CIBC lowered the firm’s price target on OpenText (OTEX) to $31 from $33 and keeps a Neutral rating on the shares. Open Text is repositioning itself at the end of a difficult F2025, focusing on AI and cost-reduction initiatives amid an uncertain demand environment, the firm notes. The company reduced its 2025 revenue guidance this quarter given tariff and DOGE headwinds, and CIBC has reduced its 2026 revenue growth forecast to flattish in the current environment.
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