Thoughtworks price target lowered to $2.75 from $3.25 at Citi

Citi lowered the firm’s price target on Thoughtworks to $2.75 from $3.25 and keeps a Neutral rating on the shares. The analyst continues to have a cautious view toward the enterprise IT spending environment with the IT Services demand environment remaining largely unchanged since the start of the year. Pressures on discretionary spending and delayed decision-making remain with some offset coming from good demand for larger-scale digital core transformations, the analyst tells investors in a research note.