Benchmark analyst Matthew Harrigan lowered the firm’s price target on Zoom Video to $95 from $102 to reflect a more conservative market-linked multiple and keeps a Buy rating on the shares, stating that yesterday’s partnership deal with Major League Baseball as MLB’s Official Unified Communications Platform "highlights the breadth of Zoom’s UC competencies as well as introducing a high profile partner with superior consumer awareness." The firm, which calls the partnership with MLB "a marketing coup," remains constructive on Zoom’s long-term UC growth potential.
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Published first on TheFly
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