CIBC lowered the firm’s price target on OpenText to $38.50 from $44 and keeps a Neutral rating on the shares following the company’s “slightly mixed top-line results” and pushing out of its FY26 aspirational targets to FY27 as it noted longer cloud contract ramp-ups. Following the report, the firm is making model adjustments and rolling its valuation year to FY26, the analyst noted.
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