Analyst Actions: RBC Capital Keeps Outperform on Open Text, Ups TP to US$60 on Growth Potential
10:56 AM EST, 02/05/2021 (MT Newswires) -- RBC Capital has kept its Outperform rating on Open Text and lifted its one year PT to US$60 (from US$53).
"Q2 is OpenText's 5th consecutive quarter above expectations. While organic growth was still negative, it was against tough Y/Y license comps and the company's outlook implies further improved organic growth 2H/FY21."
The brokerage notes that TTM FCF (+35%) also shows the company's ability to integrate and generate high returns from acquisitions. "We see the potential for an improved organic growth trajectory and upside from acquisitions."
(MT Newswires covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://www.mtnewswires.com/contact-us)
Price: 63.32, Change: +2.34, Percent Change: +3.84