Morgan Stanley analyst Josh Baer raised the firm’s price target on Asana (ASAN) to $14 from $13 and keeps an Underweight rating on the shares. Results in Q2 were broadly ahead of expectations and there were “many positives in the quarter,” says the analyst. However, outperformance in Q2 and a second half guidance cut due to small-to-midsize business pressures suggests a more meaningful deceleration now, which “seems more appropriate than conservative,” the analyst tells investors.
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