Atlassian price target raised to $285 from $255 at Canaccord

Canaccord analyst David Hynes raised the firm’s price target on Atlassian (TEAM) to $285 from $255 and keeps a Buy rating on the shares after meeting with management. The company’s new guidance philosophy seems to have financial targets set in a more achievable and “de-risked spot,” the analyst tells investors in a research note. This leaves Canaccord hopeful that recent momentum in the shares “is something the firm can build upon.”