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Company News

BUZZ-Open Text Corp: Jumps after Q4 profit beat

** Canadian business software maker’s shares jump 4.5 pct to C$43.84 on TSX; Nasdaq-listed shares of Open Text up 4 pct

** Co posts 37 pct rise in Q4 revenue, helped by a boost in customer support unit; profit beats estimates

** At least 2 analysts raise PTs on stock to as high as $41

** Analysts largely bullish on OTEX with 7 of 8 recommending a buy, while 1 has a hold rating; median PT $40

** OTEX’s TSX-listed shares now up ~6 pct YTD while Nasdaq-listed stock up ~12 pct

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