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Edition: U.S. Article Comments (0) Follow Reuters Facebook Twitter RSS YouTube Read Exclusive: Facebook investors look for exits 9:23am EDT Storms knock out TVA nuclear units, power lines 27 Apr 2011 Tornadoes and storms rip through South, more than 220 dead | 11:40am EDT Honolulu has best air in U.S., Los Angeles and others the worst: report 5:47am EDT William and Kate "deeply touched" by well-wishers | 8:50am EDT Discussed 150 Texas governor calls for prayers for rain 139 Obama sees no magic bullet to push down gas prices 93 White House releases longer Obama birth certificate Watched Fire ants form rafts to defy floods Tue, Apr 26 2011 Nokia announces layoffs, outsourcing Wed, Apr 27 2011 Simon the robot requests your attention Tue, Apr 26 2011 Open Text poised to grow due to solid pipeline: analysts Tweet Share this (Reuters) - Canada's largest software company Open Text Corp has strong prospects for growth partly due to its solid pipeline, analysts said, and raised their price target on the stock, a day after it posted a jump in quarterly profit. At least five... Email Print Related News Nasdaq ends at 10-year high in Bernanke-driven rally Wed, Apr 27 2011 J&J to buy device maker Synthes for over $21 billion Wed, Apr 27 2011 Ford posts best first-quarter profit in 13 years Tue, Apr 26 2011 Barrick challenges Minmetals with rich Equinox bid Mon, Apr 25 2011 Inflation jitters interrupt Wall Street rally Mon, Apr 25 2011 Analysis & Opinion Sell in May and go away? Stock strategists not so sure Hong Kong’s yuan IPO buyers should heed history Related Topics Technology » Stocks Thu Apr 28, 2011 10:30am EDT (Reuters) - Canada's largest software company Open Text Corp has strong prospects for growth partly due to its solid pipeline, analysts said, and raised their price target on the stock, a day after it posted a jump in quarterly profit. At least five brokerages, including RBC Capital Markets and CIBC World Markets, lifted their share-price targets on Open Text, while GMP Securities upgraded the stock to "buy" from "hold." "What's interesting is that the pipeline includes a growing number of new customers, setting the stage for a continuation of large deployments over the next 24 months," GMP analyst Sera King wrote in a note to clients. Open Text is poised to grow as a result of its solid pipeline, broad-based strength across all geographies, and continued traction with strategic partners including Germany's SAP AG, Microsoft Corp and Oracle Corp, King said. In a separate report, CIBC analyst Stephanie Price said she sees continued license revenue growth as the company cross-sells products from recent acquisitions and increases traction with key partners. CIBC's Price expects margins to return to the management's target range and move higher over time, as the company continues to gain scale, both organically and through acquisitions. While the Waterloo, Ontario-based company posted a higher quarterly profit, it missed analysts' expectations, prompting at least one brokerage to cut its rating on the stock and another to cut its price target. Benchmark Securities downgraded Open Text to "sell" from "hold," saying the stock is likely to fall over the coming weeks as investors digest the managements' subtle strategy shift from cost containment and margin expansion to revenue growth and increased business investment. "This strategy shift is likely to result in lower operating margins and earnings growth in the short-term until organic revenue growth accelerates from the increased business investment," Benchmark analyst Mark Schappel said. Open Text shares were trading up about 1 percent at C$61.46 on the Toronto Stock Exchange on Thursday morning, while its Nasdaq-listed shares were trading at $64.75. The table below lists the price target changes on Open Text: (Reporting by Isheeta Sanghi in Bangalore; Editing by Roshni Menon) Technology Tweet this Share this Link this Digg this Email Reprints We welcome comments that advance the story directly or with relevant tangential information. We try to block comments that use offensive language, all capital letters or appear to be spam, and we review comments frequently to ensure they meet our standards. If you see a comment that you believe is irrelevant or inappropriate, you can flag it to our editors by using the report abuse links. Views expressed in the comments do not represent those of Reuters. Comments (0) Be the first to comment on reuters.com. Add yours using the box above. 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