Ziff Davis price target lowered to $38 from $40 at UBS

UBS analyst Chris Kuntarich lowered the firm’s price target on Ziff Davis (ZD) to $38 from $40 and keeps a Neutral rating on the shares. Ziff Davis’s engagement with inbound interest on its portfolio is a positive sign, though limited visibility on potential divestitures makes a sum-of-the-parts approach premature, the analyst tells investors in a research note. Without major asset sales, EBITDA growth is expected to remain in the mid-single digits, constrained by low organic revenue and modest inorganic gains, the firm says.