OpenText price target raised to $36 from $34 at Barclays

Barclays analyst Raimo Lenschow raised the firm’s price target on OpenText (OTEX) to $36 from $34 and keeps an Equal Weight rating on the shares. The company’s fiscal Q2 and the lower guidance “were not great” but the setup for the rest of the year is “now more interesting,” especially for Q4, where OpenText could see a return to organic growth, the analyst tells investors in a research note.