Ziff Davis price target lowered to $45 from $80 at Susquehanna

Susquehanna lowered the firm’s price target on Ziff Davis (ZD) to $45 from $80 and keeps a Positive rating on the shares. The firm said they posted a solid 1Q and is expecting 2Q growth to accelerate despite the tough macro backdrop. Encouragingly, the M&A progress has continued, with two acquisitions closed in 1Q and another quarter to date.