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MFGP

Micro Focus

$14.05

-0.52 (-3.57%)

, OTEX

OpenText

$40.35

-0.495 (-1.21%)

14:58
10/18/19
10/18
14:58
10/18/19
14:58

Micro Focus jumps after Bloomberg says rival OpenText considering takeover bid

Shares of Micro Focus (MFGP) trading in New York were up 6.6% before being halted for volatility after Bloomberg reported that rival OpenText (OTEX) is weighing a takeover offer. Following the headlines from Bloomberg, OpenText shares trading in New York are down about 2%.

MFGP

Micro Focus

$14.05

-0.52 (-3.57%)

OTEX

OpenText

$40.35

-0.495 (-1.21%)

  • 31

    Oct

  • 06

    Nov

  • 19

    Nov

MFGP Micro Focus
$14.05

-0.52 (-3.57%)

07/17/19
07/17/19
DOWNGRADE

Fly Intel: Top five analyst downgrades
Catch up on today's top five analyst downgrades with this list compiled by The Fly: 1. Micro Focus (MFGP) downgraded to Sell from Neutral at Goldman Sachs. 2. Wells Fargo (WFC) downgraded to Neutral from Outperform at Macquarie. 3. Alliance Resource Partners (ARLP) downgraded to Neutral from Buy at B. Riley FBR with analyst Lucas Pipes citing the company's "disappointing" sales volumes in Q2 for the downgrade. 4. 58.com (WUBA) downgraded to Neutral from Outperform at Credit Suisse. 5. Ralph Lauren (RL), Levi Strauss (LEVI), and PVH Corp. (PVH) downgraded to Sell from Neutral at Goldman Sachs. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
07/22/19
JEFF
07/22/19
INITIATION
Target $21
JEFF
Hold
Micro Focus initiated with a Hold at Jefferies
Jefferies analyst Julian Serafini started Micro Focus with a Hold rating and $21 price target. The ongoing integration of HPE is a "drag on the business with synergies taking longer to materialize," says the analyst. He views the stock's valuation as full and risk/reward unappealing with its business facing "meaningful headwinds."
09/26/19
JPMS
09/26/19
UPGRADE
JPMS
Neutral
Micro Focus upgraded to Neutral from Underweight at JPMorgan
JPMorgan analyst Stacy Pollard upgraded Micro Focus International to Neutral from Underweight with a price target of 11.30 pounds, down from 17.36 pounds. Despite reduced estimates, Pollard upgraded Micro Focus on valuation with the stock down ~30% since the profit warning.
09/27/19
09/27/19
NO CHANGE

Micro Focus looked at as possible target by PE firms, Dealreporter says
Some private equity firms considered a deal to take Micro Focus private last year, sources told Dealreporter, according to contacts.
OTEX OpenText
$40.35

-0.495 (-1.21%)

10/31/18
MUFG
10/31/18
NO CHANGE
Target $38
MUFG
Overweight
OpenText price target lowered to $38 from $47 at MUFG
MUFG analyst Stephen Bersey lowered his price target on OpenText to $38 after its Q1 results saw a miss on expected revenue. The analyst keeps his Overweight rating however, noting that the quarter also saw some progress being made toward achieving FY21 financial targets of $1B in operating cash flow. Bersey is also positive on the company's $310M purchase of Liaison Technologies, which he expects to produce an incremental margin improvement.
02/01/19
MUFG
02/01/19
NO CHANGE
Target $43
MUFG
Overweight
OpenText price target raised to $43 from $38 at MUFG
MUFG analyst Stephen Bersey raised his price target for OpenText to $43 following the company's fiscal Q2 results. The analyst thinks OpenText had "another solid quarter," highlighted by a new acquisition of Catalyst Repository Systems and continued execution against its fiscal 2019 target model. He's bullish on the company's cloud business, which he thinks has been bolstered by recent acquisitions.
07/11/19
BNCH
07/11/19
NO CHANGE
Target $48
BNCH
Buy
OpenText price target raised to $48 from $42 at Benchmark
Benchmark analyst Mark Schappel raised his price target on OpenText (OTEX) shares to $48 from $42 after having attended the company's annual user conference. No "monumental revelations" came out of the event, but it reinforced his Buy rating and overall investment thesis, said Schappel, who sees the company as a consolidator in the relatively mature ECM/EIM software space. Ahead of April 2020, when the company will start to sell all of its solutions as a cloud service, OpenText "strengthened its cloud credentials" by announcing an extended partnership with Google Cloud to become Google's (GOOGL) preferred EIM services provider, noted Schappel.

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