Canaccord lowered the firm’s price target on Concentrix to $100 from $125 and keeps a Buy rating on the shares. The firm said the company’s Q3profitmetrics were relatively in line, but Concentrix did bring down its Q4 profit guidance driven by several factors, including higher upfront costs on certain large deals, continued investment in its unique, customer-care-centric AI software platform, and then some short-term duplicative service cost structure as a few clients move volumes offshore.
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