LegalZoom price target raised to $11.50 from $9.50 at Jefferies

Jefferies raised the firm’s price target on LegalZoom (LZ) to $11.50 from $9.50 and keeps a Buy rating on the shares. The acquisition of Formation Nation should help LegalZoom accelerate its initiative to further penetrate a customer base with more complex needs that command higher pricing, the analyst tells investors. While “mindful of potential execution risks,” the firm continues to view the story favorably, the analyst added.