UiPath price target lowered to $16 from $17 at TD Cowen

TD Cowen lowered the firm’s price target on UiPath to $16 from $17 and keeps a Hold rating on the shares. The firm said post its challenging 1Q and abrupt CEO change, the company delivered much-needed stabilization in 2Q. They noted uncertainty persists on demand and its sustainable growth outlook, as does execution risk on its restructuring program, but there is a more confident posture from management.