Korn Ferry price target lowered to $58 from $65 at Truist

Truist lowered the firm’s price target on Korn Ferry to $58 from $65 but keeps a Buy rating on the shares after meeting with its CFO this week. The analyst contends that investors should be encouraged by the company’s stable EBITDA and EBITDA margins despite the sequential decline in Q1 revenue. The firm added that Korn Ferry’s consulting is exhibiting more resilient topline and new business trends than legacy Executive Search, though its reduced price target assumes a more modest enterprise value to expected EBITDA multiple.