Northland Securities analyst Michael Latimore has maintained their bullish stance on TTEC stock, giving a Buy rating today.
Michael Latimore has given his Buy rating due to a combination of factors that he believes will lead to a successful outcome for TTEC Holdings. Despite acknowledging the headwinds faced by TTEC such as delayed customer plans and reduced volume forecasts which have prompted a decrease in 4Q EBITDA, he is optimistic about the company’s potential. He notes the company’s digital segment is showing promise with a strong pipeline for 4Q. Furthermore, TTEC’s ongoing work on numerous genAI pilots, which could be a key driver for growth.
Latimore’s rating also reflects his confidence in the company’s resilience and adaptability in tough macroeconomic conditions. He highlights TTEC’s experience in weathering past recessions and its ability to adapt to new normals. At the same time, he acknowledges a consistent trend in demand for customer experience improvements, which is a core business area for TTEC. Despite lowering the target price to $30 from $50, the recommendation to Buy indicates Latimore’s belief in the company’s ability to bounce back, expecting a meaningful reacceleration during a macro recovery.
Latimore covers the Technology sector, focusing on stocks such as DocGo, Evolv Technologies Holdings, and Crexendo. According to TipRanks, Latimore has an average return of 13.9% and a 46.09% success rate on recommended stocks.
In another report released today, Barrington also assigned a Buy rating to the stock with a $18.00 price target.
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TTEC Holdings (TTEC) Company Description:
TTEC Holdings, Inc. is a digital global customer experience technology and services company focused on the design, implementation and delivery of transformative solutions for many of brands. The company operates through the following segments: TTEC Digital and TTEC Engage. TTEC Digital segment provides design, build and operate tech-enabled, insight-driven CX solutions. TTEC Engage segment provided digitally-enabled customer care, acquisition, and fraud prevention services. The company was founded by Kenneth D. Tuchman in 1982 and is headquartered in Englewood, CO.
Read More on TTEC:
- TTEC Holdings sees FY23 non-GAAP EPS $2.11-$2.27, consensus $2.55
- TTEC Holdings reports Q3 non-GAAP EPS 48c, consensus 44c
- TTEC Announces Third Quarter 2023 Financial Results
- TTEC Earnings Report this Week: Is It a Buy, Ahead of Earnings?
- Ex-Dividend Date Nearing for These 10 Stocks – Week of October 9-13, 2023
