CIBC Reiterates a Buy Rating on Open Text (OTEX)

By Ryan Adsit

In a new note to investors yesterday, an analyst has provided a rating update for the Technology company, Open Text (OTEXResearch Report). Analyst Stephanie Price from CIBC remains bullish on the stock and has a C$49 price target.

Price has an average return of 6.5% when recommending Open Text.

According to TipRanks.com, Price is ranked #1171 out of 5142 analysts.

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Open Text has an analyst consensus of Strong Buy, with a price target consensus of C$57.

Open Text’s market cap is currently C$12.21B and has a P/E ratio of 38.1. The company has a Price to Book ratio of 2.53.

Open Text Corp. enagges in the design, development, marketing, and sales of enterprise information management software and solutions. Its services include consulting services; managed services; learning services; cloud managed services; and optimized service programs. The company was founded on June 26, 1991 and is headquartered in Waterloo, Canada.

The company’s shares closed on Friday at C$45.79.