Open Text downgraded to Sector Perform from Outperform at RBC Capital RBC Capital downgraded Open Text to Sector Perform due to valuation and said further upside requires hard to achieve forecasts of margin expansion, organic growth and a high sustained historic multiple. The firm adds the company is less likely to make an acquisition near-term given leverage, removing a catalyst. Price target lowered to $55 from $60.
News For OTEX From The Last 14 Days
Check below for free stories on OTEX the last two weeks.
Open Text pops following results, first look In after hours trading the shares are up 5.8% to $51.30 following earnings. At that price next resistance is at $52.86, the 52-week high. Support is at $49.76.