DocuSign price target raised to $102 from $85 at BofA

BofA raised the firm’s price target on DocuSign (DOCU) to $102 from $85 and keeps a Neutral rating on the shares following Q2 results that the firm says “suggest that DocuSign’s recovery story is very much back on track.” However, the cycle is early and the firm believes that go to market efforts in both the direct and partner channel are “a work in progress,” adding that it also believes much of the near-term upside it sees is priced into shares at the current valuation.