KeyBanc analyst Jason Celino raised the firm’s price target on Monday.com to $238 from $220 and keeps an Overweight rating on the shares ahead of quarterly results. Based on the firm’s analysis, KeyBanc believes recent pricing increases could provide about 4 pts of growth contribution in 2024. This, along with its positive KFL Data tracker, increases the firm’s confidence in its above-consensus 2024 growth estimates. KeyBanc reiterates Monday.com as one of its favorite ideas for 2024.
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- Monday.com upgraded to Buy from Hold at Jefferies
