Atlassian initiated with an Equal Weight at Stephens

Stephens initiated coverage of Atlassian (TEAM) with an Equal Weight rating and $255 price target The firm contends that the company offers a “great product” and “compelling” growth opportunities, but also calls for investors to look for a better entry point, the analyst tells investors in a research note. The stock is looking interesting at these valuations, but the firm is still in wait and see mode, Stephens added.