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In a report published on Friday, Wedbush analyst Steve Koenig raised the price target on TIBCO Software (NASDAQ: TIBX) from $25 to $28 and maintained an Outperform rating.
In the report, Wedbush stated, "In last night's 10-Q filing, TIBX revealed it decided in June to initiate a restructuring action worth $8M-$10M in GAAP charges. We expect most of the charges will occur in 3Q, and cost savings will build over the next couple of quarters. Based on our review of the 2Q earnings call, we don't think the restructuring had been finalized or incorporated into guidance. Most of the benefits should accrue in 4Q and beyond, quarters for which TIBX hasn't guided yet."
TIBCO Software closed on Thursday at $23.59.
Crypto Whales Are Loading Up — Are You?
New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.
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