OpenText price target raised to $35 from $33 at Jefferies

Jefferies raised the firm’s price target on OpenText (OTEX) to $35 from $33 and keeps a Buy rating on the shares. The company’s Q4 total revenue was exactly what management gave in the pre-announcement, and 3% ahead of prior consensus estimates, the analyst tells investors in a research note. The firm added that the guidance, $300M buyback, and management’s signaling of a return to tuck-in cloud M&A suggest a stabilization in the business after an up-and-down FY25.