Raymond James analyst Steven Li lowered the firm’s price target on OpenText to $48 from $55 and keeps an Outperform rating on the shares. OpenText reported a “noisy” quarter with a clear miss on EBITDA margin guidance while 2025 free cash flow looks good, the analyst tells investors in a research note. If OpenText can deliver on the higher organic growth targets of 2%-4% it has laid out, sacrificing margins for growth would have been worth it, Raymond James argues.
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