As previously reported, TD Securities downgraded OpenText (OTEX) to Hold from Buy with a price target of $40, up from $35, after resuming coverage of the stock. The firm, while “optimistic” the board will simplify the business by selling non-strategic assets and new management will be able to accelerate organic growth, believes the CEO void leaves uncertainty, while the newly appointed CFO will need time, the analyst tells investors.
Claim 50% Off TipRanks Premium and Invest with Confidence
- Unlock hedge-fund level data and powerful investing tools designed to help you make smarter, sharper decisions
- Stay ahead of the market with the latest news and analysis so your portfolio is always positioned for maximum potential
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on OTEX: