DocuSign price target raised to $55 from $50 at Wells Fargo

Wells Fargo analyst Michael Turrin raised the firm’s price target on DocuSign to $55 from $50 and keeps an Underweight rating on the shares after Reuters reported that multiple private equity bidders are competing to buy DocuSign. The firm believes essentially all of the M&A premium is now baked in, presenting risk if a deal does not close or becomes less competitive, the analyst tells investors in a research note.