Morgan Stanley upgraded Zeta Global to Overweight from Equal Weight with a price target of $17, up from $12. The stock’s valuation underestimates Zeta’s asset growing over 20% for a fifth consecutive year in fiscal 2024, approaching $1B-plus of revenue and $110M of free cash flow in fiscal 2025, the analyst tells investors in a research note. The firm says that with a strong track record of “prudent” guidance and upcoming catalysts, it expects positive revisions to Zeta’s estimates and valuation.
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