N-able assumed with Neutral from Overweight at JPMorgan

JPMorgan analyst Brian Essex downgraded N-able to Neutral from Overweight with a price target of $11, down from $13, after assuming coverage of the name. The analyst maintains a favorable outlook for N-able’s markets, but says its valuation being relatively in-line with security peers coupled with revenue deceleration and margin contraction warrant a Neutral rating.