NEW YORK (TheStreet) -- Credit Suisse upgraded Open Text (OTEX) - Get Open Text Corporation Report to "outperform" from "neutral," increased its estimates and set a $65 price target. The firm said the company's new product cycle is gaining momentum.
The stock was up 10.82% to $53.68 at 9:32 a.m. on Thursday.
Separately, TheStreet Ratings team rates OPEN TEXT CORP as a "buy" with a ratings score of A. TheStreet Ratings Team has this to say about their recommendation:
"We rate OPEN TEXT CORP (OTEX) a BUY. This is based on the convergence of positive investment measures, which should help this stock outperform the majority of stocks that we rate. The company's strengths can be seen in multiple areas, such as its revenue growth, solid stock price performance, impressive record of earnings per share growth, compelling growth in net income and reasonable valuation levels. Although no company is perfect, currently we do not see any significant weaknesses which are likely to detract from the generally positive outlook."
You can view the full analysis from the report here: OTEX Ratings Report
Editor's Note: Any reference to TheStreet Ratings and its underlying recommendation does not reflect the opinion of TheStreet, Inc. or any of its contributors including Jim Cramer or Stephanie Link.