The Globe and Mail reports in its Tuesday, April 29, edition that Scotiabank's Kevin Krishnaratne has reiterated his "sector perform" call on Open Text. The Globe's David Leeder writes that Mr. Krishnaratne gave his share target a $5 trim to $30 (all figures U.S.). Analysts on average target the shares at $34.01. Mr. Krishnaratne says in note: "We remain SP-rated on Open Text given no likely near-term catalysts and our expectations of it being more of a 2H story. Recall that total F25 revenue growth outlook ex-AMC was recently lowered to down 3 per cent to down 1 per cent along with Q2 earnings (prior was 0 per cent to 1 per cent), with management anticipating a return to total growth in Q4. Key to the company's return to growth will be its cloud business, with related trends encouraging in its Q2 (growth accelerated q/q at 2.7 per cent year-over-year vs. 1.3 per cent) with expectations for related growth for FY25 to be 2 per cent to 5 per cent (we are conservative at 3 per cent in FY25 only modestly accelerating to 5 per cent in FY26 as we await more evidence of cloud bookings translation to revenue). Although top-line trends continue to be muted, we are encouraged by management's commitment to shareholder returns."