Clarivate price target lowered to $7 from $8 at Wells Fargo

Wells Fargo lowered the firm’s price target on Clarivate to $7 from $8 and keeps an Underweight rating on the shares. Clarivate underperformed on light Q4 org revenue and a target push-out/shave, while further investment weighs on margins and free cash flow. Wells’ bearish view reflects Clarivate’s soft results/outlook relative to its Info coverage.