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UPDATE: Cantor Fitzgerald Initiates Open Text at Hold on Macro Headwinds

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Mitsubishi UFG Securities Initiates Open Text At Overweight

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

DateFirmActionFromTo
Oct 2016Mitsubishi UFJInitiates Coverage OnOverweight
Sep 2016National Bank FinancialInitiates Coverage onOutperform
Sep 2016BMO CapitalUpgradesMarket PerformOutperform

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