Clarivate downgraded to Hold from Buy at Jefferies

Jefferies downgraded Clarivate (CLVT) to Hold from Buy with a price target of $4.50, down from $5.20. The firm says that while the company’s fiscal Q1 results were better than expected, investors are underestimating the time it will take for Clarivate to unlock value, either through organic means or divestitures. It sees the company’s 2026 revenue as flat with 2025 levels with risk to the business from the current administration’s plans to cut funding for the National Institutes of Health and post secondary education. As such, Jefferies sees Clarivate trading sideways in the near-term.