Replies to post #111909 on Savvy Trades and Investments

[researcher59]

CNXC -2.48 to 58.98, making new lows .... I don't know what's behind the weakness and added a few shares .... however there were some price target cuts and a downgrade after the earnings -

fly 3/27 -

Concentrix price target lowered to $84 from $121 at Barrington
Barrington lowered the firm's price target on Concentrix to $84 from $121 and keeps an Outperform rating on the shares following the fiscal Q1 report. The reduced target is due to being conservative given increased business risk, the analyst tells investors in a research note. The firm believes the Webhelp acquisition should represent meaningful cross-selling opportunities and views Concentrix shares as undervalued.

Concentrix downgraded to Underperform at BofA on lack of near-term catalyst
As previously reported, BofA analyst Ruplu Bhattacharya downgraded Concentrix to Underperform from Neutral with a price target of $60, down from $85, as the firm lowered its FY24 revenue and EPS estimates to the lower half of the guidance range, versus the prior midpoint of guidance, following the company's Q1 report and guidance. While the firm says the valuation "appears attractive," it sees the demand environment remaining relatively weak and does not see a meaningful catalyst in the near-term.