The Globe and Mail reports in its Friday, March 22, edition that Citi analyst Steven Enders, in a review of quarterly earnings season for U.S. application software companies, lowered his Open Text share target to $42 from $44 (all figures U.S.). The Globe's David Leeder writes in the Eye On Equities column that Mr. Enders continues to rate Open Text "neutral." Analysts on average target the shares at $51.46. Mr. Enders says in a note: "4Q23 results were largely split across our coverage with solid results in automation yet some softer results/guides within collaboration. We view outlooks as relatively conservative with more of a derisked view vs. other areas of our coverage. ... While macro may remain a headwind, we see a favorable setup with valuation remaining low across the group (26th percentile over five years on EV/rev) and upside levers emerging from AI (ASAN, OTEX), packaging (BOX) and price increases (MNDY)." The Globe reported on Sept. 22, 2022, Oct. 17, 2023, and Feb. 2, 2024, that Mr. Enders rated Open Text "neutral." It was then worth $27.93, $34.50 and $43.07.