Atlassian price target raised to $240 from $200 at Mizuho

Mizuho raised the firm’s price target on Atlassian (TEAM) to $240 from $200 and keeps an Outperform rating on the shares. The company reported a fiscal Q1 that was much better than expected, and notably better than its prior few quarters, the analyst tells investors in a research note. The firm continues to believe Atlassian’s multi-year growth prospects “are better than most realize, and this includes pricing power and what should be a few years of significant Data Center-to-Cloud migrations.”