Endava PLC (ADR) (DAVA) PT Lowered to $12 at TD Cowen

TD Cowen analyst Bryan Bergin lowered the price target on Endava PLC (ADR) (NYSE: DAVA) to $12.00 (from $16.00) while maintaining a Hold rating.

The analyst commented: "GTM/Delivery Model Transitions Amid Sluggish NT Demand Yields Another Reset; Lower 1Q & FY26 guides surprised to the downside yielding another reset. DAVA is making needed changes to GTM/delivery to adapt to the rapidly evolving GenAI landscape & volatile Services spending backdrop, but Street appetite for surprise is nil post challenges over the last ~2 years. We reduce ests & PT and expect shares to remain range-bound until consistency forms post transition."

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