The Globe and Mail reports in its Thursday, Feb. 1, edition that Scotia Capital analyst Kevin Krishnaratne has reaffirmed his "sector perform" recommendation and $50 share target for Open Text (all figures U.S.). The Globe's David Leeder writes that analysts on average target Open Text shares at $50.42. Mr. Krishnaratne says in a note: "Open Text is our top pick in a hard-landing scenario given its solid operating profile (approximately 80-per-cent recurring revenue, 35-per-cent adjusted EBITDA margins, and strong FCF) and leverage to multiple mission-critical enterprise software verticals including content management, supply chain, cybersecurity, and IT operations management. Management has already provided guidance for its F24 (June), which calls for organic growth ex-FX of 1 per cent to 2 per cent (we are at 2 per cent), while we estimate cloud organic growth ex-FX at 4.3 per cent vs. 3.9 per cent in F23. We expect Q4 to be in line, but the company could issue positive updates to F24 guidance given its exposure to cybersecurity and optionality on AI." The Globe reported on May 9 that Mr. Krishnaratne had reaffirmed his "sector perform" recommendation for Open Text. The shares could then be had for $41.67.