Wedbush Downgrades Zix Corp. (ZIXI) to Neutral, Following Acquisition

Wedbush analyst Daniel Ives downgraded Zix Corp. (NASDAQ: ZIXI) from Outperform to Neutral with a price target of $10.00.

Analyst comments: "we believe this is a well executed, strategic move for both Zix and OpenText as healthy cloud e-mail momentum continues to play out in the field. The acquisition will bring over 5,600 MSPs to OpenText and create significant cross-selling opportunities across both client bases. We are downgrading our rating to NEUTRAL from OUTPERFORM given the deal announcement. We do not expect any other bidders or regulatory issues for the deal."

For an analyst ratings summary and ratings history on Zix Corp. click here. For more ratings news on Zix Corp. click here.

Shares of Zix Corp. closed at $8.74 yesterday.

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