Thoughtworks price target raised to $3.25 from $2.50 at Citi

Citi analyst Ryan Potter raised the firm’s price target on Thoughtworks to $3.25 from $2.50 and keeps a Neutral rating on the shares. The company reported relatively solid top-line results that included a beat, higher than expected Q2 outlook and raised 2024 outlook, the analyst tells investors in a research note. The firm sees this quarter as a step in the right direction, but says Thoughtworks will need to prove out execution over multiple quarters.