Canaccord upgrades ‘too darn cheap’ CS Disco to Buy

As previously reported, Canaccord analyst David Hynes upgraded CS Disco to Buy from Hold with an unchanged price target of $12. Arguing that it is "amazing how significantly sentiment has shifted on this name," Hynes contends that Disco shares have reached the point that "the stock is simply too cheap for the potential of this business." While calling it time to get more constructive on the stock and explaining "this is largely a valuation-based upgrade," Hynes warns investors that "valuation calls typically don’t deliver instant gratification" and says his call "could take some time to play out."