Stephens lowered the firm’s price target on Simulations Plus (SLP) to $20 from $28 and keeps an Overweight rating on the shares. Simulations Plus reported slightly better than expected quarterly results, though adjusted EBITDA guidance was slightly lower than the firm modeled, the analyst says. The fourth quarter outlook represents conservatism rather than a further slide in fundamentals, and Stephens sees limited downside from here.
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