Nice price target lowered to $230 from $280 at Jefferies

Jefferies lowered the firm’s price target on Nice to $230 from $280 and keeps a Buy rating on the shares. Nice shocked with a CEO transition and underwhelmed with a low quality Q1 beat, the analyst tells investors in a research note. While longstanding CEO Barak Eilam departing at a critical juncture for the company is concerning, Jefferies expects the stock to find support int he $180-$200 level.