Barclays analyst Raimo Lenschow lowered the firm’s price target on OpenText to $38 from $44 and keeps an Equal Weight rating on the shares. OpenText’s Q3 results were mixed, with cloud growth and initial fiscal 2025 guidance below expectations, though the company’s capital allocation strategy is incrementally positive, the analyst tells investors in a research note. The firm thinks the company needs to prove it can grow organically to get investors more interested.
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