Asana upgraded to Sector Weight from Underweight at KeyBanc

KeyBanc upgraded Asana (ASAN) to Sector Weight from Underweight without a price target post the Q3 report. The “solid, although not exceptional, fundamental quarter” is seeing strong follow-through in shares, the analyst tells investors in a research note. The firm says the post-earnings rally, coupled with Asana’s artificial intelligence product extensions, stabilizing retention rates, and a new CFO “who can inject efficiency into the model tell us it’s time to move on from our Underweight rating.”