Wells Fargo Maintains Overweight Rating for Cerence: Here's What You Need To Know

Wells Fargo has decided to maintain its Overweight rating of Cerence CRNC and lower its price target from $66.00 to $64.00.

Shares of Cerence are trading down 6.27% over the last 24 hours, at $24.66 per share.

A move to $64.00 would account for a 159.53% increase from the current share price.

About Cerence

Cerence Inc is a United States-based software company. It is involved in developing mobility-based solutions for drivers and their cars. The customers include all major automobile original equipment manufacturers, or OEMs, or their tier 1 suppliers. The company's revenue is generated by selling software licenses and cloud-connected services. Geographically, it derives a majority of revenue from the United States and also has a presence in Other Americas; Germany; Other Europe, Middle East and Africa; Japan and Other Asia-Pacific.

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This article was generated by Benzinga's automated content engine and reviewed by an editor.