Morgan Stanley lowered the firm’s price target on Atlassian (TEAM) to $290 from $320 and keeps an Overweight rating on the shares. Q2 results showed no signs of AI disruption, but rather “actually pointed to encouraging momentum with the Atlassian AI story,” the analyst tells investors. However, a modest organic deceleration in cloud is “not enough to reverse the narrative” and calm investor concerns on AI risks, the analyst added.
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