Upland Software price target lowered to $12 from $20 at Truist

Truist analyst Terry Tillman lowered the firm’s price target on Upland Software to $12 from $20 but keeps a Buy rating on the shares. The analyst says the company reported "solid" revenue and cash flow in Q3 with improved balance sheet and extensive expansions, but his reduced price target reflects larger currency headwinds, lengthening deal cycles, and cautiousness with respect to macro uncertainty.