NICE Systems Ltd (NICE) PT Lowered to $230 at RBC Capital

RBC Capital analyst Rishi Jaluria lowered the price target on NICE Systems Ltd (NASDAQ: NICE) to $230.00 (from $265.00) while maintaining a Outperform rating.

The analyst comments "We went to NICE's annual customer conference and investor day in Las Vegas. Our key takeaways include: 1) reiterated medium-term targets (and new $5B R40 target) were encouraging; 2) however, reaffirmed FY24 guidance came with underwhelming FCF outlook; 3) sizes AI & digital business at $150M ARR with encouraging CXone NRR; and 4) a long runway in cloud migrations remain. All in, we maintain our Outperform rating but slightly lower our PT to $230 (from $265) on lower FCF estimates."

You May Also Be Interested In

• Cantor Fitzgerald Downgrades Better Home & Finance Holding (BETR) to Neutral
• Compass Point Reiterates Buy Rating on WhiteFiber Inc (WYFI)
• Dollar General (DG) PT Raised to $143 at Wolfe Research