Ibex price target lowered to $20 from $21 at Baird

Baird lowered the firm’s price target on Ibex to $20 from $21 and keeps an Outperform rating on the shares. The firm thinks Ibex has a good risk/reward profile, but it may take a little time to see fundamental recovery and they think macro pressures are the key driver to weak volumes/revenue with companies trying to keep costs down.