BofA lowered the firm’s price target on ZoomInfo to $20 from $23 and keeps a Neutral rating on the shares. The firm, which cites both lower 2024/25 revenue estimates and a lower multiple to account for its target cut, believes the muted Q4 outlook and cautious demand commentary for the first half of 2024 will keep shares range-bound until there are concrete data points that end-market demand has stabilized.
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