Fly News Breaks for December 5, 2019
Dec 5, 2019 | 08:09 EDT
JPMorgan analyst Paul Coster lowered his price target for Verint Systems to $73 from $78 saying the company posted "strong" fiscal Q3 results. The company's initial fiscal 2021 earnings guidance is slightly below expectations but looks conservative, Coster tells investors in a research note. He believes Verint's strategic decision to separate into two companies will probably move the stock today, given the "immediate improvement" to financial disclosures, a planned $400M APAX investment, and a $300M buyback. Coster maintains an Overweight rating on Verint.
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