The Globe and Mail reports in its Friday edition that Citi analyst Steven Enders has reaffirmed his "neutral" recommendation for Open Text. The Globe's David Leeder writes in the Eye On Equities column that Mr. Enders gave his share target a $6 boost to $44 (all figures U.S.). Analysts on average target the shares at $50.58. Mr. Enders says in a note: "We see Open Text's recently closed acquisition of Micro Focus likely remaining an overhang on the stock until Open Text is able to make changes to Micro Focus's operations and executing the Open Text playbook to drive better renewals and leverage. Yet, we believe the acquisition and Micro Focus's declining revenue base will likely remain a point of focus until the acquisition closes in CY23 and distract from Open Text's cloud and MSP investments until Micro Focus potentially returns to growth in CY24 from Open Text investments. While we believe the acquisition could ultimately prove successful, we see a challenging narrative until Open Text's strategy can begin to take shape which we expect will take more than a year to play out." The Globe reported on Sept. 22, 2022, and Oct. 17, 2023, that Mr. Enders rated Open Text "neutral." It was then worth $27.93 and $34.50.