UPDATE: Cantor Fitzgerald Initiates Open Text at Hold on Macro Headwinds
Cantor Fitzgerald initiated coverage on Open Text (NASDAQ: OTEX) with a Hold rating and a $56 price target.
Cantor Fitzgerald said, "We are initiating coverage of Open Text, a leading provider of software that allows companies to organize and manage their content. The company is focused more on organic growth with the arrival of new CEO Mark Barrenechea. While a positive move, we anticipate macro headwinds could delay the return on these investments."
Open Text closed at $136.88 on Monday.
Latest Ratings for OTEX
|Jul 2014||Credit Suisse||Upgrades||Neutral||Outperform|
|Dec 2013||PI Financial||Downgrades||Buy||Neutral|
© 2014 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.