Ziff Davis downgraded to Neutral from Overweight at JPMorgan

JPMorgan analyst Cory Carpenter downgraded Ziff Davis to Neutral from Overweight with a price target of $85, down from $115. The insurance lead generation sector is the analyst’s favorite across small and mid-cap internet stocks for 2023. He downgraded Ziff Davis to Neutral and Yelp to Underweight citing a cautious view of online advertising. Trends in online advertising are unlikely to improve at least through the first half of 2023, Carpenter tells investors in a research note.