BlackLine price target lowered to $70 from $80 at Citizens

Citizens analyst Patrick Walravens lowered the firm’s price target on BlackLine (BL) to $70 from $80 and keeps an Outperform rating on the shares ahead of the Q4 earnings report. Beyond expectations for a beat and raise, investors are likely to focus on the timing of the annual meeting, the proxy contest with Engaged Capital, potential settlement versus a shareholder vote, and board changes, the analyst says in a research note.