Craig-Hallum raised the firm’s price target on Cerence (CRNC) to $6 from $3.50 and keeps a Hold rating on the shares. Cerence reported results and guidance ahead of expectations, driving yesterday’s 100% surge, the analyst tells investors in a research note. The firm awaits incremental evidence and conviction in the forecasted forward growth as a possible opportunity to be more constructive on shares.
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Read More on CRNC:
- Cerence price target raised to $7 from $5 at Baird
- Cerence Inc. Reports FY24 Results and Outlines Future Growth Plans
- Nvidia reports Q3 beat, Starbucks explores China partnerships: Morning Buzz
- Cerence reports Q4 adjusted EPS (7c), consensus (38c)
- Cerence sees Q1 revenue $47M-$50M, consensus $55.69M
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