RBC Capital downgraded Ibex to Sector Perform from Outperform with a price target of $18, down from $27. The company reported a “mixed” quarter and guidance as the shift to U.S. GAAP acted as a headwind to adjusted EBITDA, the analyst tells investors in a research note. The firm citers ongoing industry pressures for the downgrade and would become more constructive should Ibex’s revenue growth reaccelerate.
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