Berenberg Starts Cerence Inc. (CRNC) at Hold

Berenberg analyst Michael Filatov initiates coverage on Cerence Inc. (NASDAQ: CRNC) with a Hold rating and a price target of $93.00.

The analyst comments "Cerence is the leading supplier of software that powers AI and voice-based virtual assistants in the automotive industry. Cerence and big tech work in harmony to give OEMs and consumers a seamless and flexible experience. Consumer preference is driving greater adoption of AI-based voice assistants. The expansion of features and domains is driving ASP growth. We would become more constructive on the company if there were a pullback in the share price."

For an analyst ratings summary and ratings history on Cerence Inc. click here. For more ratings news on Cerence Inc. click here.

Shares of Cerence Inc. closed at $87.78 yesterday.

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