Asana price target raised to $16.50 from $12 at Scotiabank

Scotiabank raised the firm’s price target on Asana (ASAN) to $16.50 from $12 and keeps a Sector Perform rating on the shares. While the firm is encouraged by the early momentum in the company’s AI Studio and expect faster scaling in the second half of the year, Scotiabank remains cautious on broader demand trends and downsell pressure, the analyst tells investors.