ZoomInfo downgraded to Equal Weight from Overweight at Morgan Stanley

Morgan Stanley downgraded ZoomInfo to Equal Weight from Overweight with a price target of $20, down from $24. The analyst says a slower recovery in sales job postings and increasing competition lowers the company’s outlook on future growth. While the stock’s valuation “remains undemanding,” a lack of upside catalysts may cap ZoomInfo shares near-term, the analyst tells investors in a research note. The firm is incrementally cautious on the pace of recovery in the company’s customer base after new rounds of tech layoffs and weaker job posting data in January.