Citi lowered the firm’s price target on OpenText (OTEX) to $36 from $38 and keeps a Neutral rating on the shares. The firm adjusted models in the application software group after catching up with managements. Companies are facing a stable but uncertain demand environment, with some relief from the reopening of the U.S. government, the analyst tells investors in a research note. Citi names Pegasystems (PEGA) its new top pick, saying the company is the leader in artificial intelligence monetization. It also likes the growth opportunities at Blackline (BL) and Workiva (WK).
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