Raymond James analyst Brian Peterson lowered the firm’s price target on RingCentral to $75 from $90 and keeps a Strong Buy rating on the shares. RingCentral’s Q3 results should provide a more clear bull case heading into 2023, primarily relating to the significant progress on margin expansion, with cost efficiency initiatives also adding ramping profitability narrative to the bull case, Peterson tells investors in a research note.
Published first on TheFly
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