Wells Fargo analyst Colin Langan lowered the firm’s price target on Cerence to $3.30 from $6.50 and keeps an Equal Weight rating on the shares. Cerence’s Q3 results beat expectations and adjusted EBITDA guidance rose slightly, but challenges remain as Cerence lowered 2025 sales again due to $35M-$40M in cost cuts, the analyst tells investors in a research note.
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