MeridianLink price target raised to $25 from $24 at BofA

BofA raised the firm’s price target on MeridianLink to $25 from $24 and keeps a Buy rating on the shares after a 9% reduction in force was announced, which the firm estimates to impact approximately 65 employees. While the headcount reduction, which is MeridianLink’s second recent set of cuts, should result in higher adjusted EBITDA in 2024/25, it does “put into question potential impacts” on near to medium-term growth and the pace of new product innovation, the analyst tells investors.