LegalZoom price target raised to $8 from $7 at Morgan Stanley

Morgan Stanley raised the firm’s price target on LegalZoom (LZ) to $8 from $7 and keeps an Underweight rating on the shares. Though “encouraged” by management’s commitment to driving increasing mix of durable, predictable recurring revenue and prioritizing efficient growth, the firm believes it will take time for the company to streamline the product, go-to-market, and pricing/packaging changes needed so it continues to view LegalZoom as a relative Underweight, the analyst tells investors.