Open Text (OTEX) Gets a Buy Rating from TD Securities


In a report released today, Daniel Chan from TD Securities reiterated a Buy rating on Open Text (NASDAQ: OTEX), with a price target of $43. The company’s shares opened today at $39.50, close to its 52-week high of $40.31.

Chan has an average return of 8.5% when recommending Open Text.

According to TipRanks.com, Chan is ranked #672 out of 4853 analysts.

Open Text has an analyst consensus of Strong Buy, with a price target consensus of $45, a 13.9% upside from current levels. In a report issued on July 24, Industrial Alliance Securities also maintained a Buy rating on the stock with a $40 price target.

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Open Text’s market cap is currently $10.09B and has a P/E ratio of 44.42. The company has a Price to Book ratio of 2.73.

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Open Text Corp. is an independent software company that provides software products and services that assist organizations in finding, utilizing, and sharing business information from any device. Its products and solutions include enterprise content management, digital asset management, cloud, business process management, content management and legal.

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