JPMorgan assumed coverage of LegalZoom with an Overweight rating and price target of $14, down from $17. LegalZoom is a sizeable presence in the business formation ecosystem, equipping individuals to quickly and affordably apply to register LLCs, non-profits, and corporations, the analyst tells investors in a research note. The firm estimates a $49B U.S. addressable market of which LegalZoom has less than 1% penetration.
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