Scotiabank analyst Allan Verkhovski lowered the firm’s price target on Zoom Communications (ZM) to $75 from $85 and keeps a Sector Perform rating on the shares. With demand trends worsening and recession odds rising, the firm favors market leaders in the software and services sector, specifically those with strong free cash flow that can benefit from AI, the analyst tells investors.
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Read More on ZM:
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- Zoom Video Communications: Strategic Growth and AI Integration Support Buy Rating
- Zoom Video Communications: Strong Growth Potential and Value Proposition Amidst Expanding AI Capabilities
- Microsoft (NASDAQ:MSFT) Kills Skype Amid Surge in Competition
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