Open Text price target raised to $120 from $110 at RBC Capital RBC Capital increased its price target on Open Text after the company reported stronger than expected results. The firm thinks that investors are becoming more upbeat about the company's model ,and it keeps an Outperform rating on the shares.
Open Text deepens cooperation in its partnership with SAP OpenText (OTEX) announced at OpenText's Enterprise World 2014 conference that it has deepened its long-standing strategic relationship with SAP (SAP). Through co-innovation, OpenText and SAP deliver customers an ever-growing choice of integrated products and solutions designed to help customers take advantage of digital technologies such as mobile, cloud, and social networking. Offerings from OpenText and SAP include comprehensive support for customer engagement solutions that are fundamental for companies moving towards use of these technologies. By delivering big data solutions based on the SAP HANA platform, OpenText and SAP aim to increase real-time access to information and data via mobile devices and cloud technologies.