Semrush assumed with Buy from Neutral at Jefferies

Jefferies upgraded Semrush to Buy from Neutral with a price target of $15, up from $9, after assuming coverage of the name. The analyst the company’s fundamentals are near a bottom, and the potential of its pricing power and recent focus on Enterprise clients is underappreciated. Along with more disciplined expense management, Semrush can post upside to current revenue and earnings expectations, the analyst tells investors in a research note.