Ibex price target lowered to $25 from $32 at Truist

Truist lowered the firm’s price target on Ibex to $25 from $32 after its Q4 earnings miss and below- consensus guidance but keeps a Buy rating on the shares. The quarter was “noisy” due to a change in reporting from IFRS to GAAP and its outlook for profitability was below consensus, but the firm attributes the slow demand environment to the broader macro picture and not to substantive impacts from AI, the analyst tells investors in a research note, adding that the major AI impacts from generative AI are still 24-36 months out. Truist added that it remains optimistic about Ibex’s underlying fundamentals.