Ziff Davis price target raised to $48 from $40 at RBC Capital

RBC Capital analyst Rishi Jaluria raised the firm’s price target on Ziff Davis (ZD) to $48 from $40 and keeps an Outperform rating on the shares. The company’s Q1 results were generally solid, with revenue and adjusted EBITDA above consensus despite continued Tech and Shopping headwinds, the analyst tells investors in a research note. RBC adds that it remain encouraged by management’s proactively pursuing strategic alternatives to unlock shareholder value.