BMO Capital lowered the firm’s price target on Atlassian (TEAM) to $295 from $360 and keeps an Outperform rating on the shares after its Team 2025 event. The firm notes that while the management commented that the cost to serve for Rovo has declined meaningfully, new pricing changes raise some questions on the slope of elasticity, the analyst tells investors in a research note. BMO adds that its reduced price target reflects the macro backdrop.
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