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Fly News Breaks for October 2, 2019
NUAN, CRNC
Oct 2, 2019 | 08:36 EDT
Evercore ISI analyst Chris McNally initiated coverage of Cerence (CRNC), which was just spun out of Nuance (NUAN), with an Outperform rating and $24 price target. He sees a mid-teens compound annual growth rate for the Automotive Voice/Cognitive Assistance industry through 2025, noting that Cerence has a "dominant 75%+" market share.
News For CRNC;NUAN From the Last 2 Days
CRNC
Apr 17, 2024 | 06:56 EDT
Baird analyst Luke Junk lowered the firm's price target on Cerence to $15 from $17 and keeps a Neutral rating on the shares. The firm noted the company filed an 8-K yesterday morning regarding an amended credit agreement including modified financial covenants and as a result they believe it's prudent to build in some conservatism to estimates for now given the current backdrop for the stock.
