OpenText price target raised to $34 from $31 at CIBC

CIBC raised the firm’s price target on OpenText (OTEX) to $34 from $31 and keeps a Neutral rating on the shares. The firm notes that OpenText was up as much as 10% post earnings, with investors pleased with a solid Q4 print and 2026 guidance that included organic growth and EBITDA margin expansion. With a business optimization plan in process, CIBC considers the company’s 2026 adjusted EBITDA margin target as achievable and its margin forecast is at the high end of the guidance range.