RBC downgrades Clarivate on time needed for turnaround

RBC Capital downgraded Clarivate to Sector Perform from Outperform with a price target of $8, down from $9. The possibility of strategic optionality for the company is likely diminished with higher interest rates, changes in the investor base, and management’s focus on turning around product and execution, the analyst tells investors in a research note. The stock is inexpensively valued but it is challenging to see meaningful upside until there is a material improvement in growth, contends the firm. It thinks “considerable time is required for the fundamental turnaround” at Clarivate.