Truist lowered the firm’s price target on Ibex to $22 from $25 but keeps a Buy rating on the shares. The company’s downside results and lowered full-year guidance reflects soft demand across some verticals as well as the disruption from the transition from on-shore to off-shore, the analyst tells investors in a research note. The firm adds however that it expects to see substantial sequential margin improvements beginning in Q3 and could see revenue growth slightly in Q4.
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