CIBC analyst Stephanie Price lowered the firm’s price target on OpenText (OTEX) to $37 from $40 and keeps a Neutral rating on the shares. The firm expects OpenText to be topical this quarter after providing weaker-than-expected Q2 guidance last quarter and expects investor focus will be on the company’s guidance for Q3, for which the Street is expecting 2% growth. CIBC will also be looking for an update on non-core divestitures.
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