CI&T price target lowered to $4 from $5.50 at Canaccord

Canaccord analyst Joseph Vafi lowered the firm’s price target on CI&T to $4 from $5.50 and keeps a Hold rating on the shares. The firm said they continue to execute well against what remains a tough macro. Digital transformation remains a key top priority for enterprises in terms of their business strategy moving forward and the firm sees demand for such services, while reduced by the macro environment, is still capable of driving modest growth across the sector.