William Blair analyst Maggie Nolan downgraded TTEC Holdings (TTEC) to Market Perform from Outperform without a price target The firm sees the company’s reiterated 2025 guidance as carrying “modest risk,” especially for profitability. TTEC’s transition will result in pressured growth and slow margin recovery, the analyst tells investors in a research note. Blair believes the company’s free cash flow generation is challenged while its debt remains high.
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