Loading...
Loading...
In a report released Thursday, Credit Suisse analyst Michael Nemeroff upgrades Open Text Corporation
OTEX from Neutral to Outperform and raises target price from $51 to $65.
Analyst at Credit Suisse anticipate growth in year-over-year license revenue from the Open Text launch of EIM suite bundled products, Credit Suisse projects the new bundled products to generate operating margins at the high end of Open Text 's range between 28 to 32 percent, influencing Credit Suisse's forecast for full year 2015 EPS growth of 15 percent plus, minimum.
Credit Suisse raises its full year 2015 revenue estimate from $1.914 billion/$3.71 billion to $1.971billion/$3.92 billion. Open Text's $65 target price is given by a projected C2015 P/E multiple of 16.0x.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
date | ticker | name | Price Target | Upside/Downside | Recommendation | Firm |
---|
Benzinga simplifies the market for smarter investing
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
Join Now: Free!
Already a member?Sign in