Roth MKM upgraded LivePerson to Buy from Neutral with an unchanged price target of $6. The company’s revenue results for Q2 were “fair” given weak its guidance, while adjusted EBITDA far exceeded forecasts on severe cost cuts, the analyst tells investors in a research note. The firm says LivePerson’s deal volumes held up in the quarter, a trend that if maintained could show a path back to profitable growth. Roth cites the severe share price pullback and valuation weakness for the upgrade.
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