Jefferies upgraded Clarivate to Buy from Hold with a price target of $8.50, down from $10, as the analyst assumed coverage of the stock. While the company has struggled to drive revenue growth, the firm notes that revenue has high visibility and durability through the cycle given Clarivate’s role as a provider of data and analytics to academia, government, life sciences and healthcare customer. The firm believes that the new management team and increased investment in product development, sales and marketing should allow the turnaround to take hold.
Confident Investing Starts Here:
- Easily unpack a company's performance with TipRanks' new KPI Data for smart investment decisions
- Receive undervalued, market resilient stocks straight to you inbox with TipRanks' Smart Value Newsletter
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
See Insiders’ Hot Stocks on TipRanks >>
Read More on CLVT:
- Clarivate selected by Yale to provide library services, discovery platforms
- Clarivate price target lowered to $8 from $10 at Citi
- Clarivate creates Academia & Government Innovation Incubator, acquires Alethea
- Clarivate terminates tax benefits preservation plan
- Clarivate downgraded to Underweight from Equal Weight at Barclays