Wix.com price target raised to $160 from $135 at RBC Capital

RBC Capital raised the firm’s price target on Wix.com to $160 from $135 and keeps an Outperform rating on the shares. The company reported a “good” Q4 with management continuing to under-promise and over-deliver vs. its long-term targets,the analyst tells investors in a research note. Wix.com is seeing strong new product traction with Creative Studio and AI, which is enabling accelerated price increases, the firm added.